Top Coins To Watch Next Week: XRP, And Solana (SOL) Prices Set For Renewed Gains
XRP Price Analysis
XRP experienced a rejection near the resistance of $0.58, triggering a minor correction below the 0.023 Fib level. However, buyers hold confidence by defending a decline below moving averages. As of writing, XRP price trades at $0.54, declining over 2.5% from yesterday’s rate.
The price has approached the downtrend line, a zone where a significant clash between buyers and sellers is anticipated. Should the buyers emerge victorious, the XRP price might rebound and surge above $0.59. Although there’s a slight resistance near $0.6, it’s expected to be easily surpassed.
On the flip side, a sharp downturn from the current position, breaching below the EMA lines, would indicate that sellers are effectively guarding the downtrend line. This scenario could lead the price to retract to $0.50.
Solana (SOL) Price Analysis
Solana witnessed a drop from $116 as selling pressure intensified at this level, potentially setting the stage for a return to the neckline of the inverse head-and-shoulders pattern at $103. Currently, the price of SOL is at $106, marking a 2.1% decrease from the previous day’s value.
If the price manages to rebound from the neckline, this could signal that buyers have effectively established this level as a support zone, which might lead to a rally beyond $126. Subsequently, the SOL price could target $135.
Conversely, a drop below the neckline could suggest that sellers are capitalizing on price increases to sell off. While buyers may try to stem the decline at the moving averages, failing to maintain this could lead to a drop to $93.