ETH and XRP Analysis: What Awaits Investors

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Commentator Aayush Jindal, analyzing Altcoin pioneers Ethereum (ETH) and Ripple (XRP), made important statements for the pair. Referring to the bearish signs for the XRP price, the analyst talked about the support and resistance zones on the ETH side to avoid big losses.

Ethereum (ETH) Comments From Jindal

  • Although the ETH price managed to climb to the $ 365 level in the last 24 hours, it failed to break the $ 370 threshold and declined. ETH is currently bought and sold for $ 350 – 360 dollars.
  • According to the analyst, the fact that triggered the decrease in the ETH price was the loss of $ 360 – 365 waters.
  • Looking at the hourly chart of ETH / USD, there is a break below the $ 355 support. The pair is currently trading below the $ 355 support and the 100 hourly moving average.
  • The first major support point for ETH was determined to be $ 350. According to the analyst; If the Ethereum price fails to hold on to this region, a bigger drop awaits ETH.
  • The analyst, who set the next support for Ethereum at $ 342, suggested that the price could see $ 333 with the loss here.
  • If Ethereum manages to stay above the $ 350 support, it could try a new uptrend. In this scenario, the initial resistance for the bulls is likely to be around $ 355, according to the analyst.
  • The analyst is the next resistance points; He set it at $ 362, $ 375 and $ 388.

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Ripple (XRP) Comments from Jindal

  • Speaking about Ripple’s good performance this week, the analyst said that the XRP price broke the $ 0.2450 – $ 0.2550 resistance zones.
  • But XRP has failed at the $ 0.2550 hurdle and tends to draw a double-top chart in the waters of this region.
  • Last week, XRP was traded above $ 0.2550, the 100-hour moving average value observed on the 4-hour charts; it has now dropped below this level and is sailing around 0.2440.
  • The analyst says that looking at the 4-hour XRP chart shows a downside move from resistance near $ 0.2465.
  • With this bearish trend, the first support zone is set by the analyst at $ 0.2380 – $ 0.2400. It is predicted that the bears’ hand may strengthen if there is a clear break under the said support zone.
  • The analyst is falling with a loss of $ 0.2380, which could be the next key support zone at $ 0.2300.
  • In the good scenario, if Ripple price can stay above 0.2380 – 0.2400 levels; a new price increase can be seen.
  • Saying that the resistance of $ 0.2550 must be broken for XRP to continue its upward trend, the analyst suggests that the next critical resistance may be $ 0.2620.
See Also
Analysts: Ethereum (ETH) Price Could Drop To $ 300

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