Crypto Price Analysis Mar-4: Ethereum, Ripple, Luna, Cosmos, and Near Protocol

We take a closer look this week at Ethereum, Ripple and Luna.

Ethereum (ETH).

After a positive start to the week, ETH’s momentum became bearish on Wednesday. Since then, the price has fallen towards the critical support of $2,500. The cryptocurrency has seen a 5.7% price rise in the last seven days. If this correction continues, however, all of the gains made so far will be lost.

ETH now looks weaker after the $3,000 rejection and has reached a lower high. The support must be defended by buyers. It could fall further if it does not. It is also slowing down and the indicators are showing signs of optimism.

The price could drop to $2,500 in the future before another attempt at a breakout. If the market is bearish, it is likely that the correction will be deeper.

Chart by TradingView

Ripple (XRP).

The XRP price has remained between $0.86 to $0.70 for the past two weeks. There was volatility last week when XRP dropped below $0.70 because of the war in Ukraine. However, the price quickly recovered and has managed to record a 6.3% price rise in the past seven trading days.

XRP has struggled to break the $0.86 resistance despite the recent relief rally. The sellers appear to have the upper hand, and have managed to maintain the price below $0.86. Buyers will be under increasing pressure if the support is tested again.

These indicators don’t show much conviction and are quite flat. XRP could remain in the current range until bulls or bears make a decisive break.

Chart by TradingView

Luna

Luna continued to challenge the market, and almost reached its all-time peak at $103, when the price reached $97 this week before a pullback. The cryptocurrency is now consolidating just below the all-time high resistance. Luna had a remarkable performance, with a 40% price rise in just seven days.

It was able to surpass Avalanche and Solana in terms of total capitalization. Although the indicators are bullish, there are signs of exhaustion.

The MACD histogram has reached lower highs. This could indicate that buyers don’t have the strength or desire to take Luna higher after such a huge rally, as well as the fact that the market is still very bearish because of current events. If Luna experiences a correction, there will be support between $80-$70.

Chart by TradingView

Cosmos (ATOM)

ATOM broke its downtrend last week, and the price has been rising steadily since. The price has risen by 36% in the last seven days, which is comparable to Luna’s performance.

ATOM’s next resistance is at $36. This level will likely be tested before any pullback. These indicators are bullish, and don’t show the exhaustion shown on Luna’s chart. ATOM appears to have the momentum to test the resistance before a correction.

At the moment, ATOM is trading at $30. This support seems unlikely to fall in the near future as momentum is still strongly on the buyers’ side. Volume looks healthy and the cryptocurrency may continue to perform well.

Chart by TradingView

Near Protocol (NEAR).

Near Protocol broke out of its downtrend three days ago on strong volume and managed to rally quickly to $12 before a pullback turned the price back to the key support of $10. Near has seen a clear bullish trend since the breakout and has experienced a 33% price rise in the last seven days.

These indicators are positive and follow the same pattern as ATOM’s price charts. Although the MACD and RSI both move higher, there are concerns about volume which has dropped significantly since the breakout.

NEAR looks set to test the $12 key resistance in the near future. If volume continues to rise in the next days, the cryptocurrency will be well-positioned to continue its climb higher towards $13 or above.

Chart by TradingView
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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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