Altcoins in the Red: Ripple, Cardano, and Solana at Risk of Deeper Losses
Ripple (XRP) and Cardano (ADA), two prominent altcoins, are experiencing downward pressure. Ripple has extended its losses for a fourth consecutive day, risking a drop below $1.00. Meanwhile, Cardano edges lower, at risk of falling to the 50-day Exponential Moving Average (EMA) at $0.1766.
The technical outlook for these altcoins is bearish. Ripple's price is holding beneath the 50-day EMA at $1.1143 and the longer-term 200-day EMA at $1.3938, indicating a broader trend under pressure. Momentum is weak, with the Relative Strength Index (RSI) near 38, approaching the oversold zone.
Solana (SOL), another altcoin in the red, remains capped below the 50-day EMA and the declining resistance trendline near $75.49. To reinstate an upward trend, Solana must sustain a decisive close above this zone to recover toward the 200-day EMA at $92.60.