The whole crypto market is falling strongly. But where could prices go now? When is it safe to buy in again? We did the analysis for you in this article. If you are also interested in the Bitcoin price, we recommend you read our Bitcoin price article.
Ethereum price analysis
The Ethereum price was rejected by the last resistance at +/- $1,350. As a result, the Ethereum price no longer worked through the ABC sequence. The somewhat weaker supports have already been broken by the Ethereum price. However, Ethereum is now testing support at resistance in the 2017 bull market. Furthermore, there is a support at +/- $800. This support also dates back to 2017, but it only acted as resistance and could therefore also be tested as support. The fact that the GoldenPocket is there from the upward movement increases the probability that we will see this level. However, if Ethereum breaks the two levels, which we do not expect, it will find support at +/- $590 – $625.
IOTA price analysis
The IOTA price has already reached its GoldenPocket and is finding support there, this GoldenPocket is at +/- $0.3206 – $0.3312. As the altcoin dominance is on the rise, it could be that the altcoins will no longer fall strongly. If the IOTA price is not held up by the GoldenPocket, it will find support at +/- $0.2853.
The IOTA price activated an ABC sequence last week, which has a target of $0.80.
EOS price analysis
The EOS price has been in a sideways phase for a long time, where it is now at the bottom. Since the EOS price has felt almost nothing from the Bitcoin bull run, the price now offers a good buying opportunity. However, if the EOS price closes well below support, at 01:00, on Tuesday, it could be that the price drops significantly further. Since EOS recently received bad news an investment in EOS should be classified as risky.
XRP price analysis
The XRP price has been on a downward slide since 19 December, due to the indictment of Ripple, and was able to recover somewhat from the sell-off. Now the Ripple price is falling again, due to the crypto dump. The Ripple price finds support at +/- $0.21887. We expect a reversal to the upside at this level. If this area does not hold, there is support at +/- $0.17192 and at +/- $0.14723. It is unlikely that these levels will be reached, but one should always keep an eye on them in case things get worse than expected.
Cardano price analysis
The Cardano price has completed an ABC sequence and is also correcting as expected. Currently, the Cardano price is finding support at +/- $0.22810, where it has also reacted. Should this support level break, we expect a correction to +/- $0.17921. There is somewhat stronger support and would also be the 0.5 Fibonacci level, from the correction of the ABC sequence. As soon as the Cardano price reaches that level, we also expect a downward wrap to the GoldenPocket and the 200-day MA. There the Cardano price would find buyers again. The GoldenPocket is at +/- $0.13825 – $0.14868.
Chainlink price analysis
The Chainlink price is currently at a support zone, which it is in the process of breaking through. The next support we see is +/- $11.6629. There is a horizontal support as well as the 200-day MA. The Chainlink price could turn again at this point at the latest. If this level does not hold, we assume that the Chainlink price will fall to the next support at +/- $11.6629.