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RIPPLE, SOLANA AND TERRA - ALTCOIN CHART ANALYSIS



After it was very turbulent in the crypto market yesterday and the prices have now stabilized a bit, today we take a closer look at Ripple, Solana and Terra (Luna). Are we already seeing new chart patterns here? Can we see new patterns? Where did the courses start?

Ripple (XRP) was hit hardest yesterday. After we were still at around USD 1.05 early on Friday morning, the price dropped briefly to around USD 0.58 and thus experienced a nearly 50% correction.

In the meantime, the rate has stabilized significantly at around USD 0.84. Interestingly, the price is bounced right at our annual support R1 and a former strong resistance zone.

The reasons for this hard dump down were that we rose very quickly and without a break in mid-August, so no support could be formed here and XRP was in free fall until it found strong support again. Now it is important that we do not see another dump, otherwise, prices in the range of 0.60 USD would be possible again. Our next resistance is around $ 1.00.

Solana (SOL) was also hit hard, but we can already see a clear recovery here. We are currently at around 202 USD and thus in the middle of our downtrend channel.

We left this channel the day before, but there was no confirmation. Furthermore, we formed a bearish divergence in the RSI on the 4H chart, which was also played out.

The indicators have now normalized again. At SOL it is now important that we possibly consolidate a bit before we start a new attempt to break out upwards. Initial resistance is around $ 210.00.

A completely different picture emerges with Terra (LUNA). After we saw a clear (short-term) correction here, which was also indicated by a bearish divergence on different time units, we only saw a new all-time high a few hours ago.

At the moment we are at around 75.00 USD and thus back on our uptrend, which we have even confirmed as support again. LUNA has shown a clear reaction in our red 12H support zone.

For now, there are no longer any resistances ahead of us. Here it is now important that we can keep the uptrend and not leave it again. After we have increased so quickly, we have the problem that there is no support to be found up to approx. 52 - 54 USD.

IMPORTANT: Bitcoin continues to set the tone! So keep an eye on the Bitcoin price. Should a correction set in like Saturday, the above-mentioned support zones could not hold!

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