• Ethereum (ETH) managed to book a 9.5% increase in the past seven days despite the most recent pullback.
• Buyers are now on the defensive, as the price broke below the parabola that was formed in early January.
• Ethereum managed to reach $1,600 before sellers returned and it is likely that this key resistance will hold in the near future.

This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Polkadot. Ethereum (ETH) managed to book a 9.5% increase in the past seven days despite this most recent pullback. Despite the bullish momentum that Ethereum has been enjoying, buyers are now on the defensive as the price broke below the parabola that was formed in early January. A broken parabola often signals a change in trend and in this case, Ethereum managed to reach $1,600 before sellers returned. This key resistance seems likely to hold in the near future since buyers appear to have lost their momentum.

Analysts suggest that a retest of the support found at $1,400 seems probable. This would constitute a healthy pullback and an expected move, considering that Ethereum is still trading above the $1,200 level. However, if the support at $1,400 fails to hold, Ethereum could be in for a bigger correction. On the other hand, if the bulls manage to defend the support at $1,400, buyers may be able to push the price back up towards the $1,600 resistance.

Ripple (XRP) followed a similar path as Ethereum this week and managed to book a 10.3% increase over the past seven days. Despite the bullish momentum, XRP is currently trading just above the $0.30 support level. This is a key level since a break of this support could lead to a deeper correction. If the bulls manage to hold this support, XRP could make another attempt at breaking the $0.32 resistance.

Cardano (ADA) has been one of the best performers this week, with a 14.3% increase. ADA is currently trading just below the $0.30 resistance level. If the bulls manage to break this resistance, the next target could be the $0.32 resistance. On the other hand, if the resistance holds, ADA could pull back towards the $0.28 support.

Solana (SOL) has also been one of the best performers this week, with a 26.4% increase. SOL is currently trading just below the $20 resistance level. If the bulls manage to break this resistance, the next target could be the $22 resistance. On the other hand, if the resistance holds, SOL could pull back towards the $17.50 support.

Finally, Polkadot (DOT) has been one of the best performers this week, with a 22.2% increase. DOT is currently trading just below the $12.50 resistance level. If the bulls manage to break this resistance, the next target could be the $13.75 resistance. On the other hand, if the resistance holds, DOT could pull back towards the $11.50 support.

Overall, the cryptocurrency market is in an interesting spot right now, with Ethereum, Ripple, Cardano, Solana, and Polkadot all trading in key levels. If the bulls manage to defend the support levels, these cryptocurrencies could make another attempt at breaking their respective resistances. However, if the support levels fail to hold, a deeper correction could be on the horizon.