This week, we'll take a closer look at Ether, Ripple, Solana, Coincoin and Luna.

Ether (ETH)

ETH has had a very good week, gaining over 17%. Today, the cryptocurrency broke through a key resistance level of $2,800 and the price seems ready to move higher to the next target of $3,000. This latest move comes after ETH retested a key support level of $2,500 yesterday.

This price action ended the correction and brought some optimism to the market. The key question is whether ETH can now break above the $3,000 resistance level. A break above that level would consolidate the recent gains and open the door to a more significant recovery.

However, the volume of this latest push is not so impressive. As prices move higher, bullish momentum must strengthen or prices could be rejected by sellers at key resistance levels. Next week will determine the next step in the direction of ETH.

TradingViewRipple (XRP) K-Line Chart

Last week, XRP suffered a flat trend as the price moved sideways and lacked the momentum to break out of its current range. Resistance at $0.65 and support at $0.58 kept the cryptocurrency in check and any breakout attempts by longs or shorts were blocked.

The latest attempt to break below a key support level failed and the bulls regained control of the price, but seem unable to push XRP towards a significant resistance level. As a result, the price of XRP has risen only 1% in the last 7 days.

At the time of writing, XRP is lacking momentum and trading volume appears to be flat. This makes it unlikely that any major moves will occur in the near term. If there is a major breakout in BTC and ETH, XRP may try to break out of the range in the coming week. Otherwise, the flat trend is likely to continue.

TradingViewSolana (SOL) K-line chart

SOL had a great week and also broke above the $100 level, which was the key resistance for the last 7 days. Now, the price is consolidating above this level, ending the week with an impressive 17% gain.

The big challenge for SOL right now is whether it can move higher to the next key resistance level at $130. Current price action and indicators support continued movement towards this key level, but a break above it seems unlikely at the time of this writing.

Looking ahead, SOL is poised to recover lost ground from its recent correction, with current trading volume favoring the bullish side of the market. As long as this positive momentum is maintained, the cryptocurrency appears poised to move higher.

TradingView Coin On Coin (BNB) K-Line Chart

After BNB fell below $400, the price finally found support at the $335 level, which stopped the cryptocurrency from going lower – so far. Similar to XRP, which has seen flat price action over the past 7 days, BNB has lost 3% of its dollar value.

For now, BNB is consolidating and could try to rally to key resistance at $418 in the coming week. Recovering this level will be essential if BNB is to move higher in the future. On the other hand, failure means that consolidation may take longer.

Indicators favor the bulls at this point, but that bias may soon be tested as price moves toward key resistance levels. Either way, given the latest price action, BNB is unlikely to fall much lower and an uptrend seems more likely in the week ahead.

TradingViewLuna K-line chart

Luna's downtrend ended in the past week, with the price finding support around $45. Now, the cryptocurrency is hovering below the key resistance level of $54, which has prevented the price from moving higher in the past few days. Overall, Luna has been a poor weekly performer, down 6%.

Indicators have not yet turned bullish and Luna seems to be consolidating below key resistance levels. Nevertheless, the RSI is making higher lows in the daily time frame and if this price action is maintained over the next few days, a bullish crossover in the MACD could occur.

Looking ahead, Luna may try to break above the $54 level and, if successful, may rally. However, the current trading volume is weak and a breakout seems unlikely at this point. Luna may need a few more days of consolidation before a breakout attempt is made.

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TradingView's cryptocurrency K-line chart.