The volatility in Bitcoin $97,602 prices has left altcoins struggling to gain stability. This article analyzes the current price trends and predictions for significant altcoins including Ethereum
$2,750, AVAX, XRP, and XCN Coin. We will delve into important price levels and short-term expectations to understand the current market climate.
Ethereum (ETH) and AVAX Insights
Both major smart contract platforms have not performed as well as SOL Coin. Specifically, ETH has been stuck at lower levels, with the ETHBTC pair testing the 0.023BTC range last observed in December 2020. Despite some analysts believing that 0.03BTC would hold as a supportive level, ETH has continued to weaken. If selling pressures persist, deeper lows around 0.016BTC could be on the horizon.
The chart shows a steady decline lasting almost 900 days. In the USDT pair, a parallel channel resistance at 2737 is being tested as support.
If this level fails to hold, a test of $2,359 is likely. Should ETH reclaim the $3,030 support, targets of $3,346 and $3,515 may be pursued.
AVAX price also made a dip to the previously discussed support of $22.25. The recent decline has caused unsettling movements in many altcoins. A recovery of the $28-$30 range could indicate a potential rebound for AVAX, which has seen a steady decline for 55 days.
XRP and XCN Coin Analysis
Ripple’s prospects are favorable, boosted by Trump’s ambition to establish the U.S. as a crypto capital. Ripple $2 executives are closely aligned with Trump’s agenda, evident in XRP Coin’s chart. Even though a lower wick was observed at $1.80, prices quickly rebounded to the $2.4 threshold. As long as the $2.2 level is maintained, short-term optimism may continue, targeting $2.9 and $3.1.
Onyxcoin (XCN) has surged by around 800% recently, distinguishing itself among altcoins. After a long period of stagnation, it reached $0.0494, with potential to eye the $0.07640 target if demand continues. Investors should remain cautious as these levels have not been tested in 819 days.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.