Crypto Price Analysis February-14: ETH, XRP, ADA, BNB, and SOL

This week, we examine Ethereum, Ripple, Cardano, Binance Coin, and Solana in greater detail.

Ethereum (ETH)

There are good signs that Ethereum may have bottomed here and a reversal is just beginning after a difficult start in February. While the price is only up by 1% this week, this reversal could bring back buyers and see the cryptocurrency make more gains later.

ETH found good support at $2,600, and if it manages to break above $2,800, then it will have a chance to return on a sustained rally that can get it back above $3,000. While buyers are still shy, they have a real opportunity to take back the control.

Looking ahead, the remaining weeks in February could see Ethereum make steady gains. To be confident this can happen, bulls will have to break above $2,800 and $3,000.

Chart by Tradingview

Ripple (XRP)

XRP had a great week after its price increased by 16%. Even so, it did not manage to reach $3 or go above that level which continues to act as a key resistance. Until XRP breaks above this psychological level, there is still a threat of sellers returning.

The current momentum is bullish and may well be enough to test the key resistance. The question is if XRP can break $3 and turn it into a key support. If successful, then the price will be free to get closer to $3.4 which is the current all-time high.

Looking ahead, XRP needs to show higher highs and higher lows to return on a clear uptrend. Until that happens, it’s best to be cautious here.

Chart by Tradingview

Cardano (ADA)

ADA found great support at 64 cents, and since then, the price made steady gains increasing by 13% this week. The biggest challenge on the chart right now is the resistance at 90 cents which will likely try to prevent any attempts from buyers to take this cryptocurrency back to $1 or beyond.

While the current momentum is bullish, buyers have to turn 90 cents into a key support to consolidate their positions. Until then, sellers could return at any moment to regain control.

Looking ahead, ADA has a real chance to reverse the downtrend here. While the current gains are encouraging, bulls will have to maintain this momentum to be successful.

Chart by Tradingview

Binance Coin had a great week with a 15% price increase after buyers rushed to this cryptocurrency which went above $700 for a brief period. However, sellers came in force there and managed to push back the price under this key level which also serves as a resistance.

While $700 remains a stronghold for sellers, bulls managed to take BNB to a very comfortable level in the past 10 days. This allowed them to recover a lot of lost ground after the price touched $500 in early February.

Looking ahead, this cryptocurrency may take its time to break above $700, but this could eventually happen once buyers gather the strength for a new push. For now, sellers seem determined to make a stand at the key resistance.

Chart by Tradingview

Solana (SOL)

Unfortunately for Solana, it did not really move much this past week, closing with a modest 1.7% price increase. This mirrors Ethereum’s price action, but in the case of SOL, it could be interpreted as a sign of weakness.

The resistance is found at $206 and buyers failed to break it despite several attempts in February. While this key level may fall if the overall market returns on an uptrend, Solana seems to struggle to find buyers at this time.

Looking ahead, if sellers return, Solana has good support at $164 and could revisit this level before buyers become interested again. The alternative is a clean break above $206 which can improve the sentiment and begin a new rally.

Chart by Tradingview