- XRP leads investor sentiment, with 59% backing its growth potential.
- Bitcoin faces consolidation, with key resistance near $105,140 for bullish move.
- Cardano struggles with declining volume, testing crucial support around $0.9500.
The cryptocurrency market remains a battleground for investors looking to capitalize on digital assets. A recent poll revealed a strong preference for XRP, with 59% of participants backing the token.
Cardano followed at 32.3%, while Bitcoin and Solana lagged at 4.9% and 3.7%, respectively. These results highlight shifting investor sentiment as traders evaluate each asset’s strengths and potential growth.
Bitcoin: Consolidation Before a Breakout?
Bitcoin is currently trading at $104,698.02, reflecting a slight daily decline of 0.28%. The price has entered a consolidation phase after peaking at $105,140. The market shows indecision, with mixed movements limiting bullish momentum.
Key support levels include $104,500, where buyers have defended the price, followed by $104,000 and $103,500. Resistance stands at $105,140, with stronger barriers at $105,500 and $106,000. A breakout above $105,140 could push Bitcoin higher, while a drop below $104,500 may lead to further declines.
Cardano’s Struggle to Maintain Momentum
At press time, Cardano (ADA) is trading at $0.9571, down 0.61% in the last 24 hours. The token is in a downward trend, struggling to sustain previous highs. Trading volume has dropped by 26.57%, signaling cautious investor sentiment.
ADA’s immediate support is at $0.9500, with stronger levels at $0.9300 and $0.9000. Resistance sits at $0.9630, followed by $0.9800 and the crucial $1.0000 mark. A surge past $0.9630 could drive Cardano toward $1.0000, while a failure to hold $0.9500 may send it lower.
Solana: Consolidation with Limited Momentum
Solana is trading at $238.21, down 0.05% in the past 24 hours. The asset is in a consolidation phase, with alternating upward and downward moves reflecting indecision. Support levels include $236.00, $230.00, and $225.00, while resistance is at $240.00, $245.00, and $250.00. A breakout above $240.00 could push Solana toward $250.00, but a drop below $236.00 may trigger further losses.
XRP Holds Strong Amid Market Uncertainty
XRP is trading at $3.09, down 0.77% on the day. The asset has entered a consolidation phase after peaking at $3.12. Investor sentiment remains mixed. Support levels are at $3.08, $3.05, and $3.00. Resistance stands at $3.12, $3.14, and $3.20. A breakout past $3.12 could drive XRP higher, while a decline below $3.08 might lead to additional losses.