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BTC, ETH, XRP, ADA and SOL Price Analysis for February 13

Price Analysis
Sun, 02/13/2022 - 16:27
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Denys Serhiichuk
Has the market correction come to an end?
BTC, ETH, XRP, ADA and SOL Price Analysis for February 13
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The last day of the week has turned out to be bullish for the cryptocurrency market as most of the coins are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Despite sharp price fluctuations, the rate of Bitcoin (BTC) has risen by 2.09% over the last week.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Bitcoin (BTC) is located in the middle of a wide channel after a false breakout of the resistance level at $45,478. The selling trading volume is going down, which means that bears are running out of power.

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BTC, XRP and ADA Price Analysis for February 11

If buyers use this chance and return the rate to $44,000, the growth may continue to $46,000 next week.

Bitcoin is trading at $42,465 at press time.

ETH/USD

Ethereum (ETH) could not follow BTC, and the rate of the main altcoin has declined by 2% over the past seven days.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

After the failure to fix above the vital mark of $3,000, the rate of Ethereum (ETH) has come back to the blue support level at $2,815 on the daily chart.

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BTC, ETH, BNB, LUNA, SOL, AVAX and DOT Price Analysis for February 10

If the bears' pressure continues and the price goes below it, the fall may lead ETH to the zone of $2,600-$2,700 shortly.

Ethereum is trading at $2,947 at press time.

XRP/USD

XRP is the top gainer today as its rate has rocketed by 24.74% over the last week.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Despite the sharp growth, XRP keeps showing power against the declining trading volume. At the moment, the rate is located close to the resistance level at $0.9150, the breakout of which may be a prerequisite for the mid-term rise to the $1 mark.

XRP is trading at $0.8323 at press time.

ADA/USD

The rate of Cardano (ADA) is almost unchanged since yesterday with growth of only 0.48%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

From the technical point of view, Cardano (ADA) is neither bullish nor bearish as the rate is located in the middle of the channel between the support at $0.917 and the resistance at $1.209. In this regard, ongoing sideways trading is the more likely scenario in the upcoming days.

ADA is trading at $1.066 at press time.

SOL/USD

Unlike XRP, Solana (SOL) is the biggest loser today as the price has gone down by almost 16% since the beginning of the week.

SOL/USD chart by TradingView
SOL/USD chart by TradingView

Bears remain more powerful than bulls as the price could not fix in the zone of $100. Likewise, the approach to the support level at $87.73 may generate its breakout and a sharp drop to $80.

SOL is trading at $96.39 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.