Top Altcoins Price Forecast: Renewed selling drives Ripple, Solana, and Cardano further lower

• Following three consecutive days of recovery, Ripple turns slightly lower on Thursday, with a falling channel pattern continuing to constrain the price.
• A 2% fall in Cardano extends its bearish break below a rising support trendline, with selling pressure still firm.
• With its 50-day EMA providing resistance at $106.76, Solana eases lower and risks slipping below $100 towards the 200-day EMA at $98.71.

A falling channel in XRP and key moving averages limiting ADA and SOL leave the technical outlook for these altcoins tilted to the downside. Renewed short-term selling pressure has pushed major altcoins, including Ripple (XRP), Cardano (ADA) and Solana (SOL), into negative territory on Thursday. 

Ripple falls further within a bearish channel

At around $1.3442 at the time of writing on Thursday, Ripple has turned lower following three consecutive days of recovery. A falling channel continues to contain XRP on the four-hour chart. Its upper trendline joins the highs of 23 September and 6 October near $0.3669, while the lower boundary links the lows of 24 September and 18 October near $1.2252.

Gains in the previous session stalled at a confluence of resistance formed by the 200-period Exponential Moving Average (EMA) near $1.3827 and the upper trendline. Immediate support lies at the 50-period EMA of $1.368. A confirmed break could prolong the decline towards the 18 October low of $1.2562, leaving scope for a fall of over 6%.

Weak momentum persists on the four-hour chart. The Moving Average Convergence Divergence (MACD) is edging towards its signal line as the bullish histogram narrows. Meanwhile, the Relative Strength Index (RSI) has declined to 53, indicating limited buying pressure.

For an upside move, XRP needs to clear the 200-period EMA at $1.3842, just above the upper resistance line. Such a move could confirm a breakout from the falling channel and allow the recovery to extend towards horizontal resistance at $1.4517, defined by the 24 September low, before the psychological $1.50 level.

Cardano remains under bearish pressure

At $0.2205, Cardano remains below both its 50-day EMA of $0.2281 and its 200-day EMA near $0.2400, leaving the short-term outlook bearish. The recent breach of former rising trendline support, which now provides resistance around $0.2349, indicates that rallies are attracting selling.

Daily momentum is turning bearish. The Moving Average Convergence Divergence (MACD) is falling within negative territory, while the Relative Strength Index (RSI), at 42, sits just above the oversold zone.

With the downside offering the path of least resistance, Cardano could retreat towards initial horizontal support at $0.1894, marked by the 30 August low.

Any recovery would first encounter the 50-day EMA at $0.2281, then the previously breached rising trendline near $0.2349. Should buyers seek a more substantial rebound, the 200-day EMA around $0.2400 would provide a further ceiling.

Solana remains constrained by strong headwinds

Trading at $105.53 on Thursday, Solana retains a bearish short-term outlook as its 50-day EMA at $106.76 continues to restrict gains. SOL nevertheless remains above the 200-day EMA at $98.71, indicating that prices are constrained within a broader medium-term uptrend.

Buyers appear to be losing their advantage, according to daily momentum indicators. Subdued buying pressure is reflected in an RSI around 43, while the MACD's continued position below zero points to persistent downside momentum.

Key support lies at the 200-day EMA of $98.71. A breach would strengthen the bearish outlook and leave SOL vulnerable to a steeper retreat towards the 17 May low at $83.50.

On the upside, the first resistance level is the 50-day EMA near $106.76. A daily close above it would relieve immediate downward pressure, although further resistance could emerge at several levels, including the 27 August high of $110.60 and the 25 September high of $122.94.

(The technical analysis of this story was written with the help of an AI tool. Know more.)