In a recent analysis by FxPro senior market analyst Alex Kuptsikevich, the crypto market has shown signs of slight recovery after a period of stagnation. Kuptsikevich’s insights provide valuable perspectives on the performance and potential challenges facing major altcoins.

Ethereum Faces Short-Term Gains Amid Long-Term Challenges

Ethereum (ETH) has seen a 2.6% increase, trading at $2,977.88, with its market cap surpassing $357 billion. However, Kuptsikevich highlights Ethereum’s consolidation near its lower price range and a “death cross” under its 200-day average, indicating potential longer-term declines.

Cardano and Litecoin Follow Similar Trends

Cardano (ADA) and Litecoin (LTC) have both experienced modest price increases of 2.43% and 1.81%, respectively. Despite the short-term uptick, Kuptsikevich notes cautious outlooks for both coins due to their consolidation near lower price ranges.

XRP Struggles Despite Minor Recovery

XRP faces challenges as it trades around $0.50 after losing key support in April. Kuptsikevich suggests a potential pullback to long-term support levels at $0.25-30, advising investors to approach with caution despite a minor price increase.

Speculative Potential for Solana

Merkle Tree Capital predicts a rise to $400 for Solana (SOL) by November 2024, driven by meme coin popularity linked to the U.S. election campaign. SOL has surged by 7.54%, reaching $152.76, positioning it as the fifth largest cryptocurrency.

While short-term gains are evident, Kuptsikevich’s medium-to-long-term analyses reveal a more nuanced picture. External economic factors could significantly impact the trajectory of these cryptocurrencies, highlighting the complexities of crypto market predictions.