Analysts say that while the top 10 cryptocurrencies in the markets, along with other popular cryptocurrencies, are still within a very narrow margin, a sideways trend continues.
Ethereum price is entering key resistance zones to close weekly trades above the $1,800 level. ETH price is expected to rise above the $2,000 level next weekend, as investors in the markets seem to have entered the accumulation mode. According to data provided by Glassnode, wallet addresses holding more than 100 coins have reached a 15-month high of 45,168.
"#Ethereum $ETH Number of Addresses Holding 100+ Coins just reached a 15-month high of 45,168"
It has witnessed a significant increase in buying pressure, which boosted the Ethereum price by more than 8% and broke daily highs near the $1,750 level. It looks like ETH bulls may face selling pressure very soon. For this reason, it is reported that a decrease of 6 percent to 8 percent may be approaching rapidly. According to analysts, this could offer the bulls an opportunity to act immediately and push the price up to the $2,000 level.
Cardano price is attempting to retrace a bullish path towards $0.4 but volatile volatility seems to be in favor of the bears. Basically, it seems like the Cardano ecosystem's native altcoin ADA has been making steady lows and lows since it started with a recovery from June lows. The most recent liquidity flow resulted in a 6 percent increase. While the upward movement of the Cardano (ADA) price continues, analysts state that investors can observe the price to rise above $ 0.5 and reach the level of $ 0.68 as a result of the rally.
However, with a drop in ADA price, the bears could re-enter and, as things turn out in their favor, the price could slide back below $0.4 from levels at or above $0.5. In the short-term, the altcoin appears to be bullish, but in the long-term, ADA price is still trading within a descending triangle formation.
Ripple (XRP) price has been bullish recently, showing that the bulls are regaining dominance and not letting the bears break free. Although the buying pressure is likely to re-accumulate on the platform in the coming days, it is expected that this hurdle at $0.4 can be passed. As developments accelerate, next weekend is expected to be an interim period for Ripple's native altcoin XRP.
Altcoin project XRP recently tried to rebound resistance at $0.38, but the coin faced a notable drop as a result of a lack of momentum. However, if the price volatility changes in favor of Bitcoin bulls, then there is a remarkable chance for the XRP price to rise above the $0.4 level as well. As a result, according to analysts, the price level may rise up to $ 0.5 by the end of the month.