Ethereum, Ripple, Luna, Cosmos, and Near Protocol

This week we’ll take a closer look at Ethereum, Ripple, Luna, Cosmos and Near Protocol.

Ethereum (ETH)

After a promising start of the week, ETH’s momentum weakened on Wednesday, and prices have since fallen towards significant support at $ 2,500. Overall, cryptocurrencies have been able to secure a 5.7% price increase over the past seven days. However, if this fix doesn’t finish right away, most of the recent gains will be lost.

ETH now looks pretty weak and is dropping highs as it was rejected for $ 3,000. Buyers need to protect their support. Otherwise, it may fall further. Indicators are also receding, and optimism is rapidly fading.

In the future, prices could easily drop to the $ 2,500 level before a new breakout attempt. If the market remains bearish, the fix can be deeper.

Ripple (XRP)

In the last two weeks, XRP has been stuck in the range of $ 0.86 to $ 0.70. There was a sharp volatility when the XRP fell below $ 0.70 due to the war in Ukraine last week, but prices recovered shortly thereafter, recording a 6.3% increase in the last seven days.

Despite the recent bailout rally, XRP continues to struggle to break the resistance at $ 0.86. The seller seems to have an advantage and was able to keep the price below this level. Support retesting seems imminent and buyers are under pressure again.

The indicators are fairly flat and do not show clear conviction. Therefore, XRP may remain in its current range for some time before bullish or bearish causes a decisive breakout.

Luna

Luna continued to oppose the market, reaching a record high of $ 103 this week when prices reached $ 97 before the pullback occurred. Today, cryptocurrencies are being integrated just below unprecedented high resistance. Overall, Luna achieved great performance with a 40% price increase in 7 days.

As a result, it surpasses Avalanche, Solana and Cardano in terms of market capitalization, ranks in 7th place (CoinGecko), and challenges Ripple in 6th place. The indicators remain bullish, but show signs of depletion.

The MACD histogram is lowering the highs, which is the power of buyers to raise Luna, especially after such a large rally, as the entire market remains fairly bearish due to current global events. May indicate that is gone. If Luna goes into correction, there is good support between $ 80 and $ 70.

Cosmos (ATOM)

Last week, ATOM broke the downtrend and prices have been rising at a sustained pace since then. Over the last seven days, prices have risen 36%, comparable to Luna’s performance.

ATOM’s next major resistance is $ 36, which could be the price to test this level before a potential pullback. The indicators are also bullish and do not show the depletion seen on Luna’s price chart. For this reason, ATOM still seems to have the momentum needed to test resistance levels before modification.

The current support is $ 30, and the momentum remains firmly on the buyer’s side, so it seems unlikely that ATOM will lower this in the short term. Volume is also looking healthy and cryptocurrencies may continue to work well.

Near Protocol (NEAR)

The near protocol broke out of the massive downtrend three days ago and quickly rose to $ 12, after which the pullback brought the price of key support back to $ 10. Since the breakout, Near has clearly been on a short-term bullish trend, recording 33% price increases over the last seven days.

The indicator is clearly positive and has the same pattern as identified on the ATOM price chart. Both MACD and RSI are on the rise, but there are concerns that the volume has declined significantly since the breakout.

Looking to the future, NEAR has a good chance to retest key resistance for $ 12. If the volume succeeds in increasing in the next few days, the cryptocurrency is in the right position to continue rising towards $ 13 and above.