5 Cryptocurrencies Making a Comeback in 2020: XRP, ETH, XTZ, ADA, NEO

Published on by Cointele | Published on

XRP price finally broke above the resistance at $0.30 and $0.31 and has since rallied more than 14%. The strong upside move was propelled by the highest surge in volume seen since May 13, 2019, when XRP price rocketed 56.25% as it climbed from $0.30 to $0.47 in one day.

XRP has now set a higher high above the previous high at $0.3145 set on Nov. 6 as part of a tweezer top that saw the price sharply reverse to a two-year low at $0.175.

Currently, the XTZ rally has become over-extended after such a rapid move to a new high and at the time of publishing the altcoin has corrected 7.25% and is down 14.79% from its all-time high.

As XTZ price bounced right at the 23.6% Fibonacci retracement level and traders will observe to see if the altcoin finds support and consolidates at the current level.

If a high volume breakout occurs, ADA price could rally 53.47% to 0.000001041 satoshis.

Ether continues to show that its price action is hinged to Bitcoin's hip and rallied to a new 2020 high at $275 on Feb. 13.

As discussed in a previous analysis, the price easily pushed through the take profit zones at $240 and $260. As Bitcoin traders work to push the digital asset to $10,500 and above, Ether price continues to climb and appears set to reach $300 over the coming hours.

Traders will note the VPVR gap from $270 to $300. If bulls can push the price above $276 then a shot at $300 is on the cards.

After forming a double bottom at $7.73 on December 18, 2019, NEO has doubled its price to reach a 2020 high at $15.85.

Generally, the support levels for NEO are closely aligned with the Fibonacci retracement levels so traders could follow the indicator if the altcoin's price corrects.