Crypto Price Analysis Nov-17: ETH, XRP, ADA, SOL, and BNB

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Binance Coin.

Ethereum (ETH)

After Ethereum reached the resistance at $2,100 last Friday, its price entered into a corrective phase. This is why it fell by 7% this week.

This correction could last a while and may take ETH to the key support at $1,850. Once there, buyers may return to try a second attempt at breaking the $2,100 level.

Looking ahead, as long as this cryptocurrency remains in this ascending triangle, the high-timeframe bias is bullish, and an eventual breakout remains likely.

ETHUSD_2023-11-17_17-35-25 — Chart by TradingView

Ripple (XRP)

Last week, XRP booked some spectacular gains, but this week, sellers have returned and pushed the price down by 6.5%. The resistance at 68 cents did not allow the price to move higher.

The support is found at 57 cents, and the current price action shows a test of this level is likely in the near term. If buyers manage to hold there, then XRP could return on the uptrend.

Looking ahead, this pullback is a healthy correction that should not surprise. As long as the key support holds, XRP has a good chance to move back up later.

XRPUSDT_2023-11-17_17-34-51 — Chart by TradingView

Cardano (ADA)

Cardano’s luck vanished this week after the resistance at 41 cents turned around the price action. This also pushed ADA lower by 3.6%.

The most important support level now is found at 35 cents, and if this cryptocurrency can hold there, then it could serve as a great foundation to try again and break the current resistance.

Looking ahead, ADA’s rally has stopped, at least momentarily. It’s now up to the bulls and bears to decide who will dominate in the coming week. It’s important to watch the key support level, as that will decide the next move.

ADAUSDT_2023-11-17_17-34-41 — Chart by TradingView

Solana (SOL)

Despite a rejection at the key resistance of $67, Solana still managed to book an impressive 19% price increase this week. This makes it the best performer on our list and one of the few large market-cap altcoins to close the week in green.

However, the failure of the price to break above $67 indicates that sellers are starting to return and may take SOL to the key support at $43.

Looking ahead, Solana is well overdue for a correction, and this latest price action could be the start of that. It’s critical that this cryptocurrency holds above $43 if it wants to continue higher later.

SOLUSDT_2023-11-17_17-34-32 — Chart by TradingView

Binance Coin (BNB)

Binance Coin failed to move higher this week and closed it with a 4% loss. The resistance at $265 remains intact, and bulls lacked the strength to even test it.

The price action is flat, and BNB may end up testing the support at $230 again, considering the overall market sentiment.

Looking ahead, BNB lacks the momentum to move higher at this time, and the best it can offer is to hold here until more buyers return.