Top Altcoins Price Forecast: Ripple, Cardano and Solana extend post-midterms rally
- XRP extends gains above $1.3100 on Thursday, with bulls focused on reclaiming the 50-day EMA around $1.3357.
- Cardano advances its 4% gains from the previous day, aiming to reclaim the broken trendline near $0.2040.
- Solana’s recovery remains capped below the 200-day EMA at $98.07 while momentum regains bullish traction.
Top altcoins, including Ripple (XRP), Cardano (ADA), and Solana (SOL) are trading in the green on Thursday, extending a steady recovery so far this week, driven by the post-US midterms relief. XRP tests its 50-day EMA near $1.3357, ADA eyes reclaiming the lost trendline near $0.2040, while SOL pushes toward its 200-day EMA at $98.07. The technical outlook for these top altcoins is bullish as selling pressure wanes.
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Ripple rebounds on renewed buying pressure
Ripple trades at $1.3191 at press time on Thursday, extending gains for the third consecutive day. XRP breaks above a near-term resistance trendline, connecting the September 23 and October 28 highs, around $1.2691.
The price remains capped in the near term below both the 50-period Exponential Moving Average (EMA) at $1.3357 and the 200-period EMA at $1.3580, keeping the broader tone bearish despite the latest bounce.
Momentum has improved on the daily chart, with the Moving Average Convergence Divergence (MACD) crossing above its signal line and the Relative Strength Index (RSI) hovering around the neutral 50 level, hinting at rebuilding buying interest but not yet enough to shift the trend.
Initial resistance for XRP is at the 50-period EMA at $1.3357; a break there would expose the more significant barrier at the 200-period EMA at $1.3579.
On the flip side, immediate support aligns with the former downward resistance trendline, now turned into support around the $1.2691 region, while deeper cushions sit at the $1.0000 psychological threshold if selling pressure resumes.
Cardano defends key support level
Cardano holds steady around $0.1985 after a 4% rise the previous day. Still, ADA maintains a bearish near-term tone as price holds below the former rising trendline support at $0.2034 and remains capped by both the 50-day EMA at $0.2151 and the 200-day EMA at $0.2381.
The price configuration below these major averages suggests rallies are likely to be sold, even as the MACD has inched closer to the signal line for a bullish crossover, and the RSI, near 40, recovers modestly from recent oversold territory, hinting at only tentative stabilization rather than a decisive reversal.
Cardano must reclaim the lost trendline near $0.2034 to reestablish an upward trendline, which could pave the way toward the 50-day EMA at $0.2151.
The horizontal level around $0.1894 has remained intact since August 30, providing key support and guarding the downside to the August 18 low at $0.1712.
Solana takes off from a key support trendline
Solana trades around $96.80 at press time on Thursday, testing its 200-day EMA at $98.08 after bouncing off its rising support trendline around $89.69.
Momentum conditions are recovering on the daily chart, with the RSI hovering near 40 and the MACD line ready to cross above its signal line, hinting that downside pressure persists.
Looking up, a daily close back above the 200-day EMA at $98.08 would be the first sign of easing pressure, though stronger resistance is aligned at the 50-day EMA near $102.71, followed by the previous horizontal caps at $110.60 and $122.94.
On the downside, the initial support is seen at the rising trendline around $89.69, with the next horizontal floor at $87.21. Deeper losses would expose the more distant supports at $70.58 and $60.13.
(The technical analysis of this story was written with the help of an AI tool.Know more.)
