• BNB price is up over 15% and it broke the $600 resistance zone.
• The price is now trading above $580 and the 100 simple moving average (4 hours).
• There is a key bullish trend line forming with support at $598 on the 4-hour chart of the BNB/USD pair (data source from Binance).
• The pair could continue to rise toward the $650 resistance zone or even $700.

BNB Price Extends Rally

In the last BNB price prediction, we discussed the chances of more gains above the $500 resistance zone. The price continued to rise and broke many hurdles near the $550 level.

BNB is now outperforming Bitcoin and Ethereum with a move above the $580 resistance. It is up over 10% today and trading above $600. A high was formed near $633 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $364 swing low to the $633 high.

The price is now trading above $600 and the 100 simple moving average (4 hours). Immediate resistance is near the $625 level. The next resistance sits near the $635 level. A clear move above the $635 zone could send the price further higher.

Source: BNBUSD on TradingView.com

In the stated case, BNB price could test $650. A close above the $650 resistance might set the pace for a larger increase toward the $700 resistance. Any more gains might call for a test of the $780 level in the coming days.

Dips Limited?

If BNB fails to clear the $635 resistance, it could start a downside correction. Initial support on the downside is near the $600 level and the trend line.

The next major support is near the $570 level. The main support sits at $500 or the 50% Fib retracement level of the upward move from the $364 swing low to the $633 high. If there is a downside break below the $500 support, the price could drop toward the $450 support. Any more losses could initiate a larger decline toward the $420 level.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.

Major Support Levels – $600, $570, and $500.

Major Resistance Levels – $635, $650, and $700.

• Ethereum is showing positive signs and recently surpassed the $2,300 resistance.
• The price is trading above $2,250 and the 100-hourly Simple Moving Average.
• There is a major bullish trend line forming with support near $2,250 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could extend its rally if it clears the $2,320 resistance zone.

Ethereum Price Extends Rally

Ethereum price remained in a positive zone above $2,120, like Bitcoin. ETH extended its rally above the $2,200 and $2,250 resistance levels. The bulls remained action and the price spiked above $2,300.

A new multi-month high was formed near $2,316 and the price is now correcting gains. There was a move below the $2,300 level. The price is now testing the 23.6% Fib retracement level of the upward move from the $2,188 swing low to the $2,316 high.

Ethereum is now trading above $2,250 and the 100-hourly Simple Moving Average. Besides, there is a major bullish trend line forming with support near $2,250 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com

On the upside, the price is facing resistance near the $2,320 zone. The next key resistance is near the $2,350 level. A clear move above the $2,350 zone could send the price toward the $2,420 level. The next resistance sits at $2,450. Any more gains could start a wave toward the $2,500 level.

Are Dips Supported in ETH?

If Ethereum fails to clear the $2,320 resistance, it could start a downside correction. Initial support on the downside is near the $2,265 level.

The next key support is $2,250 and the trend line. It is near the 50% Fib retracement level of the upward move from the $2,188 swing low to the $2,316 high. The main support is now near $2,200 or the 100-hourly Simple Moving Average. A downside break below $2,200 might start an extended decline. The key support is now at $2,120, below which there is a risk of a move toward the $2,080 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $2,200

Major Resistance Level – $2,320

• MATIC price started a fresh increase above the $0.920 resistance against the US dollar.
• The price is trading above $0.925 and the 100 simple moving average (4 hours).
• There was a break above a key bearish trend line with resistance at $0.9150 on the 4-hour chart of the MATIC/USD pair (data source from Kraken).
• The pair could continue to move up if it clears the $0.9720 resistance.

Polygon Price Starts Fresh Increase

After forming a base above the $0.8620 level, Polygon’s price started a fresh increase. MATIC cleared many hurdles near $0.880 and $0.8950 to move into a positive zone, like Bitcoin and Ethereum.

There was also a move above the $0.90 resistance and the 100 simple moving average (4 hours). The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $1.0854 swing high to the $0.8612 low.

Besides, there was a break above a key bearish trend line with resistance at $0.9150 on the 4-hour chart of the MATIC/USD pair. MATIC is trading above $0.9250 and the 100 simple moving average (4 hours).

Immediate resistance is near the $0.960 zone. The first major resistance is near the $0.9720 level or the 50% Fib retracement level of the downward move from the $1.0854 swing high to the $0.8612 low. If there is an upside break above the $0.9720 resistance level, the price could continue to rise.

Source: MATICUSD on TradingView.com

The next major resistance is near $1.00. A clear move above the $1.00 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $1.100 level or $1.150.

Are Dips Limited in MATIC?

If MATIC’s price fails to rise above the $0.9720 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.915 level and the same trend line.

The main support is near the $0.880 level. A downside break below the $0.880 level could open the doors for a fresh decline toward $0.8620. The next major support is near the $0.8250 level.

Technical Indicators

4 hours MACD – The MACD for MATIC/USD is gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for MATIC/USD is now above the 50 level.

Major Support Levels – $0.9150 and $0.880.

Major Resistance Levels – $0.9720, $1.00, and $1.15.

The market cap for Cardano has also dropped by 1.72%, currently standing at $15 billion. The 24-hour trading volume for ADA has increased by 61.5%, reaching $576 million, suggesting heightened market activity.

Cardano Price Prediction: What’s Next As ADA Faces Resistance at $0.45?

Most cryptocurrencies today have seen a notable market correction. Bitcoin and Ethereum have experienced significant price drops, with decreases of over 3% and 4% in the last 24 hours, respectively. This downward trend is reflected across the market, with altcoins such as Binance Coin (BNB), XRP, and Solana (SOL) also facing similar declines.

Over the past week, ADA has seen a dip of more than 5%, trading in a range of $0.45 to $0.42. Additionally, the token has faced increased volatility in the past month, with price fluctuations.

Cardano’s Lace Wallet Upgrade Enhances User Experience

Cardano Lace wallet has been upgraded, featuring Trezor and Ledger integrations through its multi-staking feature. This Cardano Light Wallet Lace enhancement enables users to stake their ADA across multiple accounts. 

With the release of Lace v.1.9, users can now manage multiple accounts within a single wallet. This simplifies asset management by separating transactions and staking delegations easily. This update offers a streamlined and organized method for handling digital assets, enhancing the overall user experience.

ADA price is currently trading in a bearish trend. If bulls successfully breach the $0.45 resistance, a resurgence in upward momentum is anticipated. This upward thrust could propel the cryptocurrency towards testing significant resistance at $0.75, and if bulls mount more pressure,

ADA price could surge to $1 in the coming bullish rally.

On the downside, if market strength remains inadequate, ADA’s value may falter. It could potentially descend to its support level of around $0.4. Continued bearish pressure might exacerbate the downturn, leading to a retreat to a lower support level near $0.35 in the foreseeable future.

Technical Indicators Signal Bearish Momentum

The daily technical indicators for Solana prices suggest a bearish market trend. The Average Directional Index (ADX) is 12.58, indicating weak trend strength. Meanwhile, the Awesome Oscillator (AO) shows a negative reading of -0.0136, suggesting bearish momentum.

The Relative Strength Index (RSI) also stands at 37, indicating that ADA is approaching the oversold territory. The RSI value suggests increased selling pressure, potentially leading to further price declines if the sentiment does not shift.

The Moving Average Convergence Divergence (MACD) shows a bearish trend. The MACD line below the signal line indicates a potential downtrend continuation. The histogram also supports this bearish sentiment, displaying negative values.

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Also Read: Crypto Market Correction: $100B Liquidated in BTC, ETH, SOL, XRP, Other Altcoins, Here’s Why

XRP Price Eyes Major Reversal as Ripple Boosts Global Adoption

Over the past 11 months, the XRP/BTC price has witnessed an aggressive downtrend in the daily chart. This bearish turnaround has tumbled the trading pair value from 0.0000297 BTC to 0.00000714 BTC, registering a 76% loss. 

The downtrend is likely triggered by a renewed recovery trend for Bitcoin in 2024, thanks to the launch of ETFs in the US while a prolonged sideways action in the XRP token. Currently, the leading digital asset is struggling to surpass the $71000 barrier, allowing the trading pair to stabilize above the $0.0000069 BTC level.

The XRP to BTC ratio rebounded twice the aforementioned support revealing the formation of a double bottom pattern reversal. The chart setup commonly observed in a bear market bottom signals a notable change in trend.

Moreover, Ripple has recently announced the allocation of 1 billion XRP, approximately $490 million, to the East Asia region. This initiative aims to drive the growth and advancement of the XRP Ledger ecosystem. 

The XRPL Japan & Korea Fund will focus on corporate partnerships, developer grants, startup investments, and community growth, enhancing innovation and utility on the XRP Ledger in the APAC region. This strategic move underscores Ripple’s commitment to expanding its influence and fostering technological development in key Asian markets.

Furthermore, Ripple has completed the acquisition of Standard Custody & Trust Company, enhancing its digital asset custodial capabilities. This move aligns with Ripple’s strategy to integrate regulatory compliance into its operations. 

Also Read: Breaking: Ripple CEO Spotlights Standard Custody Acquisition Amid Stablecoin Plans

This acquisition, alongside Ripple’s plans to issue a USD-backed stablecoin on the XRP Ledger, signifies their commitment to bridging blockchain with traditional finance and expanding their enterprise solutions.

Amid this development, the XRP coin is expected to witness natural demand in the market, escape its sluggish price trend, and potentially regain the $1 mark.

Moreover, if the XRP/BTC pair successfully forms a double bottom pattern, a potential rally to the 0.00008 BTC level could be imminent.

Bottom Line:

The long-term price trend of XRP has been mostly horizontal, as it struggles to achieve a sustained recovery amidst ongoing litigation with the US Securities and Exchange Commission. This legal uncertainty has dampened investor enthusiasm for XRP, contributing to its prolonged sideways movement. However, with Ripple Labs intensifying efforts to boost global adoption and the court case drawing to a close, the XRP price is positioned for significant growth.

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This decrease in value has resulted in a market cap reduction to approximately $70.85 billion, positioning it at the fifth rank among cryptocurrencies.

The 24-hour trading volume for Solana surged by 65%, reaching $2.41 billion, suggesting significant market activity despite the overall price drop.

Solana Price Prediction: Is a Bullish Momentum on the Horizon for SOL?

Over the past week, Solana price has seen a descending trend, with significant bearish pressure pushing the value lower. This decline has been marked by lower highs and lower lows, indicating a consistent downward momentum.

SOL  price has been trading in a range of $175 to $153, struggling to find a stable support level.  This downtrend has resulted in a decrease of more than 7% in the past seven days, reflecting growing concerns among investors

Solana Mainnet Beta v1.18.15 Upgrade and Validator Response

Solana has launched Mainnet Beta v1.18.15, urging validators to upgrade for improved network stability. The new version introduces several fixes, including an optional central scheduler functionality to resolve performance issues during network congestion. 

According to Solana Beach, a validator statistics page, over 38% of the network’s validators have already transitioned to this update. This upgrade is part of Solana’s ongoing efforts to enhance network performance and ensure reliable operations. 

Validators on Solana Beach are encouraged to adopt this version promptly to benefit from its improved stability and performance enhancements.

Technical Indicators and Potential Price Movements

With the current market correction, the Solana price prediction shows that the competitive token could potentially breach the $160 resistance level, signaling a revival of bullish momentum. This movement might push the cryptocurrency towards $170. 

If SOL maintains this upward trajectory, it could set the stage for a potential approach to the $200 resistance level in the near future.

On the other hand, if bearish pressures increase, SOL’s price might drop to the $140 support level. If sellers continue to dominate the market, the price could further descend to the lower $130 support zone, potentially marking a bearish turn in the market.

The daily technical indicators for Solana show a bearish trend in the market. The Relative Strength Index (RSI) is at 41, indicating that the asset is approaching the oversold territory. 

Moreover, the Moving Average Convergence Divergence (MACD) indicates a bearish crossover. The MACD line is at -0.42, while the signal line is at 1.64, further supporting the downward momentum. 

The Bollinger bands on the daily chart show a bearish trend with the upper band at $165, while the lower band holds at $154. Solana is trading slightly below the lower band, indicating potentially oversold conditions. 

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• BNB price is moving higher above the $300 resistance.
• The price is now trading near $310 and the 100 simple moving average (4 hours).
• There is a key declining channel or a bullish flag pattern forming with resistance near $325 on the 4-hour chart of the BNB/USD pair (data source from Binance).
• The pair might continue to move up if there is a clear move above $315 and $325

BNB Price Aims Higher

After a major increase, BNB price faced resistance near the $340 zone. The price started a downside correction and recently tested the $290 zone. A low was formed near $289, and the price is now attempting a fresh increase, like Bitcoin and Ethereum.

There was a move above the $295 and $300 levels. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $332 swing high to the $289 low. BNB is now trading near $310 and the 100 simple moving average (4 hours).

The current price action is positive and signals more upsides. Immediate resistance is near the $315 level. It is close to the 61.8% Fib retracement level of the downward move from the $332 swing high to the $289 low.

The next resistance sits near the $322 level. There is also a key declining channel or a bullish flag pattern forming with resistance near $325 on the 4-hour chart of the BNB/USD pair. A clear move above the $225 zone could send the price further higher.

Source: BNBUSD on TradingView.com

In the stated case, BNB price could test $340. A close above the $340 resistance might set the pace for a larger increase toward the $350 resistance. Any more gains might call for a test of the $375 level.

Downside Correction?

If BNB fails to clear the $322 resistance, it could start a downside correction. Initial support on the downside is near the $300 level.

The next major support is near the $292 level. The main support sits at $288. If there is a downside break below the $288 support, the price could drop toward the $262 support. Any more losses could initiate a larger decline toward the $250 level.

Technical Indicators

4-Hours MACD – The MACD for BNB/USD is gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently above the 50 level.

Major Support Levels – $300, $292, and $288.

Major Resistance Levels – $315, $322, and $325.