• This article takes a closer look at Ethereum (ETH), Ripple (XRP), Cardano (ADA), Polygon (MATIC) and OKB.
• Ethereum had a great rally this past week but failed to break above the key resistance at $1,660.
• Ripple was unable to rally beyond 40 cents, while Cardano managed to paint a higher high and increase by 12%.
Crypto Price Analysis Feb-17: ETH, XRP, ADA, MATIC, OKB
This week we take a closer look at Ethereum (ETH), Ripple (XRP), Cardano (ADA), Polygon (MATIC) and OKB.
Ethereum (ETH)
Ethereum had a great rally this past week but failed to break above the key resistance at $1,660. Nevertheless, the price still managed to increase by 7.4%. The current price action shows that buyers are becoming eager, and the key resistance is being tested again and again. The more this happens, the likelier it becomes for ETH to break above and move higher. Looking ahead, ETH has good support at $1,550 and the bias turned bullish due to this latest rally. If buyers continue to put pressure then there might be a quick breakout towards higher levels taking this cryptocurrency closer to the key psychological level of $2,000.
Ripple (XRP)
Ripple attempted an upward rally but was quickly stopped by bears at 40 cents resistance resulting in only 1.4% increase in price over the last seven days. The trend remains bearish for XRP with buyers needing to push the price up towards a higher high if they want escape it which appears unlikely as bears showed strength at the key resistance level. Buyers have defended well so far against 36 cents support leading prices likely bouncing between these two levels in coming days until any decisive move happens either way.
Cardano (ADA)
Unlike XRP Cardano successfully painted a higher high increasing its value by 12%. Despite this success ADA also faces some resistances ahead with bulls needing extra effort if they want any further progress upwards beyond 45 cents mark where Bears already established their presence alongside backdrop of growing volume since mid-February which will be crucial factor determining future direction of movement for ADA prices going forward as any decrease could lead back into bearish trend reversing recent gains made by bulls .
Polygon (MATIC)
Polygon also saw strong gains over last seven days increasing its value 14% from 0.03337 USDT on 10th February towards 0 .03814 USDT on 16th February despite facing same resistances as other cryptocurrencies here with volumes decreasing slightly after hitting peak on 13th February signalling potential end of recent uptrend before start of new one . Bulls remain optimistic however with significant trading volumes still present indicating possibility of achieving next major milestone around 0 .0400 USDT in coming days if current trend continues .