ETH/USDT

Ethereum (ETH/USDT) has seen a 3.1% decline in the past seven days as it lost the support at $1,240, turning that price level into a resistance. Despite this, some buyers have stepped up near the $1,150 mark and since then ETH has been trending upwards. The short-term goal for them is to reclaim the $1,240 level as support. 

Looking ahead to the new year, Ethereum has managed to resist making lower lows when compared to other altcoins such as Cardano (ADA) and Polkadot (DOT). This is a sign of strength and suggests that ETH can potentially reach higher prices if buyers continue supporting it above the key $1,100 psychological level.

XRP/USDT

XRP/USDT recently suffered a 6.7% drop in price, but buyers seem to have found support at $0.33 which could be a sign of better times ahead for the coin. Volatility is currently low, leaving XRP in a range between the key levels of support and resistance until it breaks out one way or the other. 

For XRP to turn bullish, buyers need to push the price above $0.36 with good volume backing them up.

ADA/USDT

With ada/usdt touching a new low of $0.25 this year, bearishness has held the market in its grip for the past seven days. The current resistance at $0.27 does not inspire confidence that ada can recover any time soon given buyers’ failure to protect it from lower lows. 

The outlook for ADA seems grim as continued bearish pressure and lack of buying power will push ada/usdt down past the next key support levels of $0.20, $0.17, and $0.15, should they be tested. The hope is that ADA could begin to see a sustained recovery if it reaches these levels in the future.

DOT/USDT

Polkadot has been the worst performer on our list this week, with its price falling 13.6% and forming a lower low than earlier in the year, similar to ADA. Optimists can take comfort in a bullish wedge forming which could signal a possible bounce should $4.4remain as support. 

Technical analysis shows that, if it drops below this level, then prices could hit new lows once again. Interestingly, the currency has dropped 92% from its all-time high of $55 in 2021 and is nearing at a bottom of just under $4 – similarly seen back in 2020.