XRP, Solana, ETC Price Analysis: 30 January
The Crypto Fear and Greed index saw a 9 point surge over the last two days. Consequently, XRP pictured a slight bullish edge but still struggled to gather enough volumes. Besides, Solana and Ethereum Classic formed bearish patterns while their 4-hour RSIs flashed weakening signs.
Buyers need to step in to subdue the bearish tendencies of these cryptos.
Source: TradingView, XRP/USDT
Since the sellers stepped in the $0.8029-level, the alt has been on a steady descent. Then, it formed a descending channel (white) on its 4-hour chart that transposed into a bearish flag.
After breaking out of the previous down-channel (yellow), XRP sharply plunged by 32.6% (from 12 January) to touch its six-month low on 22 January. Now, the upper band of the Bollinger bands stood as an immediate barrier for the bulls.
At press time, XRP was trading at $0.6174. The RSI and price seemed to correlate for the most part. After hitting its 13-month low, it steadily marked higher troughs while maintaining a flatter upper trendline at the 55-mark. This movement revealed a bullish edge, but it still needs to close above its resistance to confirm a strong rally.
Source: TradingView, SOL/USD
Losing the $132-mark was menacing for SOL’s bulls while the bears kept exerting sustained pressure. On top of it, the recent sell-off led to the alt losing 43.79% of its value (from 21 January). As a result, it marched toward its five-month low on 24 January.
Over the past few days, SOL has flashed a bearish pennant on its 4-hour chart. From here on, any pullbacks would find support at the lower trendline of the pennant.
At press time, the altcoin traded at $94.915. After plunging to its record low, the RSI upturned by 37 points from the oversold territory. But it still
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