Top Altcoins Price Forecast: Why are Ripple, Solana, and Cardano falling further as sellers return?

• Selling pressure returns to Ripple on Thursday following three consecutive days of recovery, with a falling channel pattern continuing to limit gains.
• Persistent selling pressure pushes Cardano down 2%, extending its bearish move after a break below a rising support trendline.
• Solana retreats slightly from the 50-day EMA at $106.76, leaving it at risk of slipping below $100 towards the 200-day EMA at $98.71.

Renewed near-term selling pressure weighs on major altcoins on Thursday, with Ripple (XRP), Cardano (ADA) and Solana (SOL) all trading lower. Technical signals favour further downside: XRP is confined to a falling channel pattern, while important moving averages restrict gains in ADA and SOL. 

Ripple : Can losses deepen within the bearish channel?

A bearish turn has interrupted Ripple’s three consecutive days of recovery, leaving it trading near $1.3442 at the time of writing on Thursday. The four-hour chart shows XRP still contained within a falling channel pattern. Its upper trendline links the highs of 23 September and 6 October near $0.3669, while the lower boundary joins the lows of 24 September and 18 October near $1.2252.

Gains in the previous session were checked by a resistance confluence comprising 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 deepen the fall towards the 18 October low of $1.2562, representing downside potential of over 6%.

Weak momentum persists on the four-hour chart. As the bullish histogram narrows, the Moving Average Convergence Divergence (MACD) moves closer to its signal line. Meanwhile, the Relative Strength Index (RSI) is falling and stands at 53, pointing to limited buying pressure.

For an upside move, XRP needs to clear the 200-period EMA at $1.3842, positioned just above the upper resistance line. Such a move could confirm a breakout from the falling channel pattern and prolong the recovery towards horizontal resistance at $1.4517, defined by the 24 September low. The psychological $1.50 mark would be the next level to watch.

Can Cardano find support as bears retain control?

Trading below both the 50-day EMA at $0.2281 and the 200-day EMA near $0.2400, Cardano retains a bearish near-term bias at $0.2205. Its recent breach of the former rising support trendline, which now offers resistance around $0.2349, indicates that rallies are attracting selling.

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

With the easier path for Cardano pointing lower, initial support comes into focus at the $0.1894 horizontal level established by the 30 August low.

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

Can Solana withstand persistent selling pressure?

Solana’s near-term outlook remains bearish as it changes hands at $105.53 on Thursday. Although SOL remains above the 200-day EMA at $98.71, the 50-day EMA of $106.76 continues to constrain gains. This points to restricted upside within a wider medium-term uptrend.

Buyers appear to be losing control, according to daily momentum indicators. Buying pressure remains muted with the RSI around 43, while the MACD’s negative reading signals continued downside momentum.

A breach of key support at the 200-day EMA of $98.71 would strengthen the bearish outlook. It would also leave SOL vulnerable to a sharper correction towards $83.50, the low recorded on 17 May.

For buyers, the first hurdle is the 50-day EMA near $106.76. A daily close above it would alleviate immediate selling 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.)