In the last few days,several price analyzes have been published on Cardano, Litecoin and XRP.
Analysis on Cardano (ADA)
Cardano (ADA) has lost 24% in the past 30 days , with the biggest drop in the past week (-20%). The price, from an all-time high of $ 2.45 on May 16, is now 57% lower.
In particular, ADA today loses 10%, which is the largest percentage loss since 21 June and the price today stands at a level that has not been seen since the end of April, and which had also previously been touched on 22 June.
According to several analysts, the price of ADA is falling due to the general weakness of the crypto market, that is, not for reasons strictly related to the Cardano project, but linked more to the bearish moment of global financial markets.
Furthermore, it fell below the 200-day moving average on Monday for the first time since June, and this signal could indicate that the bears are taking over. However, Cardano’s price seems to be hovering over an important support level right now, which has already held up several times in recent months.
If nothing else, however, it appears that the bears have not really gained the upper hand for now, although a major support at $ 1.16 has been broken. In theory, a breakout in both directions could occur at this point.
For example, the Relative Strength Index (RSI) would indicate a time of market indecision, although approaching the oversold region could also point to a rise.
As for Litecoin, the situation is somewhat similar.
In fact, in the last 30 days it has lost 30%, with the biggest drop concentrated in the last week. In the last 24 hours it has registered -10%, like ADA, but to date the price of LTC is even 74% lower than the all-time high of $ 410 reached on May 10th.
Also for Litecoin, the current price level is in line with that of June 22, but much lower than, for example, that of April, or even March. Indeed, it has also returned below the levels of January.
Despite this, some analysts suggest that the price may rise in the coming weeks, despite a RSI in clear bearish territory. However, RSI itself appears to be pointing in the opposite direction. The current support level should be around $ 104.
Ripple and the price of XRP
As far as XRP is concerned, the speech is slightly different, although in some ways similar.
The loss of the last 30 days is still 30%, concentrated in the last week, but today it loses 8.5% , which is less than ADA and LTC.
However, it must be said that it is still very far from the all-time highs of January 2018, when it touched $ 3.4: the current price of just over $ 0.5 in fact is still 84% below the maximum.
Even in the case of XRP, the current level is in line with that of June 22, but in reality it has already dropped slightly below in the last hours. However, it is more or less in line with that of the beginning of April, and still much higher than that of the beginning of the year.
The price of XRP remains below the 20-day SMA, as it has consistently done since July 8, but the RSI has entered the oversold region, which could suggest a possible reversal of the trend.
In other words, it seems that the movements of the last few days are quite similar for different cryptocurrencies, even if in the past few months they have been different.
Today in common Cardano, Litecoin and XRP have a price that has dropped to the support levels of June 22 , and an oversold RSI that suggests a possible reversal of the trend.