XRP, Cardano (ADA), Solana (SOL) 'Defend' Support Lines..."Buying Pressure Holds, But Momentum Weakens"

▲ XRP, Cardano (ADA), Solana (SOL)/AI generated image

XRP, Cardano (ADA), and Solana (SOL) are holding their key support lines, but upward momentum is rapidly weakening.

According to FXStreet on September 3 (local time), XRP is maintaining a short-term upward trend above the 50-day Exponential Moving Average (EMA) at $1.2227 and the 100-day EMA at $1.2191. However, the 200-day EMA at $1.3827 stands as a strong resistance. A clear break above this price level would open the door to the August 23 high of $1.5507 as the next target. The Moving Average Convergence Divergence (MACD) has moved below its signal line, and the Relative Strength Index (RSI) has fallen to around 60, indicating a slowdown in the uptrend.

If XRP falls, $1.2227-$1.2191 serves as the first line of defense. This range contains both the 50-day and 100-day EMAs. If this support breaks, the risk of a decline to the previous upward breakout range of $1.0573 increases. Whether $1.3827 is broken and $1.2191 is defended will be key to determining the future direction.

Cardano is attempting a rebound, holding the 50-day EMA at $0.1925 and the 100-day EMA at $0.1975. An upward trend line also provides support at approximately $0.1838. However, the area where the 200-day EMA at $0.2531 and the upward trend line overlap is blocking the upside. A break above this resistance would set the February 2 high of $0.2991 as the next target. The MACD has fallen below its signal line, and the RSI has dropped from the overbought zone to 54.

Among the three assets, Solana has the most robust moving average structure. The 50-day, 100-day, and 200-day EMAs are clustered around $83.85-$93.58, supporting price defense. On the downside, $100 and the February 1 low of $98.02 are the primary support levels. If even this range breaks, the 200-day EMA at approximately $93.58 becomes the next line of defense.

Solana's upside target is $116.88, coinciding with the December 18 low. However, the RSI has decreased from the overbought zone to 63, and the MACD has also slightly fallen below its signal line. Similar weakening signals are appearing in XRP and Cardano. All three assets are holding their major support lines, but to continue any further rebound, they need to break through overhead resistance and regain upward momentum.

[Article Key Summary]

-XRP is defending $1.2191-$1.2227, but the 200-day EMA at $1.3827 remains a strong resistance line.

-Cardano is holding the $0.1925-$0.1975 support, with a break above $0.2531 being crucial for an extended rebound.

-Solana has $98.02 as a key defense line, and $116.88 is a major resistance on the upside.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*