HomeLatest NewsPrice Analysis: Ethereum (ETH), NEM (XEM), Ripple (XRP)

Price Analysis: Ethereum (ETH), NEM (XEM), Ripple (XRP)

ETH faces sell pressure near $2,070, NEM remains range-bound below $0.43, and XRP is above $1.00.

Ethereum, NEM, and Ripple‘s XRP are all trading in the green on the daily log. However, the ETH/USD and XEM/USD pairs are facing increased sell-off pressure near critical resistance levels. On the other hand, XRP has broken above $1.00 and is looking to strengthen its positive outlook.

Ethereum (ETH)

ETH/USD 2-hour chart. Source: TradingView

Ethereum fell to lows of $1,930 after recording a $2,152 all-time high, but is currently stuck beneath the $2,085 resistance level.

Bulls are battling downward pressure near the middle of a well-established range on the 2-hour chart.

Despite this, the MACD remains bullish, while the RSI is above 50 to suggest bulls have the advantage. Buyers need to hold above the 100 SMA ($2,044). If ETH/USD bounces higher and clears the $2,085 resistance line, it could reach a new all-time high above $2,200 in the short term.

On the contrary, the key price level to watch is the range low of $2,010, and the horizontal support line at $1,960.


XEM/USD 4-hour chart. Source: TradingView

NEM has failed to see any significant price increase since March’s breakdown from $0.86, with the XEM/USD pair range bound between $0.30 and $0.48.

Buyers are trying to push above $0.43 but so far lack the conviction to do so, as suggested by the RSI and MACD indicators. If downward pressure increases, XEM/USD could decline to the 100 SMA ($0.37). Other critical price levels to watch are $0.30 and $0.25.

On the contrary, an upside flip could see buyers target $0.58, with possible short-term goals of reaching $0.72 or even reclaiming $0.86.

Ripple (XRP)

XRP/USD 4-hour chart. Source: TradingView

Among the top 50 altcoins on CoinMarketCap, only Enjin Coin (ENJ) with 29% and IOTA (MIOTA) with 15% have recorded bigger gains than XRP’s 10% in the past 24 hours.

The XRP/USD pair saw a massive increase following a breakout from a parallel channel on 5 April. The coin surged from $0.65 to $1.12 in two days, before hitting resistance and dropping down to lows of $0.85.

A bullish trendline has formed on the 4-hour chart, suggesting bulls may soon retest recent highs. Immediate resistance is at $1.05, with a rally to $1.30 possible further down the line.

$0.91 will be the first line of defence should bears retake control. In the event of strong downward pressure, the price levels to watch would be $0.85 and the 100 SMA ($0.65).

Sign up to our exclusive newsletter today!

Tailored emails

No SPAM ever!

Alt coin news

Unsub anytime

After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. View our privacy policy here.