Popular altcoin price forecast: SOL, ADA, LTC are steadily near key support levels, long positions hint at a new round of pump.

Solana (SOL), Cardano (ADA), and Litecoin (LTC) are all showing signs of strength, with blue-chip alts steadily holding near key support levels, indicating that as bullish momentum increases, a new pump is on the horizon. As of Wednesday (July 16), when this article was written, ADA and SOL were stable at around $0.74 and $163.65, respectively, while LTC was nearing the resistance level of $96.30.

U.S. President Trump intervened earlier on Wednesday, revitalizing the momentum of cryptocurrency legislation in the U.S. House of Representatives, which sparked optimism and bullish sentiment throughout the entire cryptocurrency market.

ADA Price Analysis

FXStreet analyst Manish Chhetri stated that the ADA price broke through the high of $0.73 on June 11 on Sunday, which roughly coincides with the 61.8% Fibonacci retracement level of $0.72 (from the high of $0.86 on May 12 to the low of $0.51 on June 22).

ADA has re-tested and bounced back, obtaining support around $0.73 in the next two days. As of Wednesday when this article was written, its price is stabilizing around $0.74.

If the support level of $0.73 remains unchanged, ADA may continue its pump until the next daily resistance level of $0.84.

On the daily chart, the Relative Strength Index (RSI) shows a value of 72, above the overbought level of 70, indicating bullish momentum. The Moving Average Convergence Divergence (MACD) showed a bullish crossover at the end of June. This indicator also shows green bars rising above the neutral zero line, indicating that bullish momentum is strengthening and continues to show an upward trend.

However, if ADA faces a correction and closes below the support level of $0.73, it may continue to decline, finding support near the 50% Fibonacci retracement level of $0.68, which is consistent with the 200-day Exponential Moving Average (EMA).

(Source: Trading View)

LTC Price Analysis

The price of LTC broke through the 50% Fibonacci retracement level of $91.61 on June 10 (from the high of $107.05 on May 10 to the low of $76.17 on June 22) and the 200-day moving average of $91.71, but failed to close above the weekly resistance level of $96.30 the next day. Since then, Litecoin has been consolidating within that range. As of Wednesday when this article was written, the price of Litecoin is close to the weekly resistance level of $96.30.

If LTC breaks through and closes above this level daily, it may continue the pump and retest the high of $107.05 from May 10.

The RSI on the daily chart is 65, above the neutral line but still below the overbought level, indicating strong bullish momentum. The MACD showed a bullish crossover at the end of June, signaling a buying opportunity. Additionally, the MACD also shows green bars rising above the neutral zero line, indicating that bullish momentum is strengthening and continuing the upward trend.

On the other hand, if LTC experiences a pullback, it may continue the downtrend and find support near the 200-day EMA at $91.71.

(Source: Trading View)

SOL Price Analysis

The SOL price broke through the daily resistance level of $160 on June 10, and then dropped over the next two days, eventually finding support near that level. This daily level aligns with the 200-day moving average of $159.12, marking the area as a key support level. As of Wednesday when this article was written, SOL continues to hold the support level, trading at $164.

If the support level at 160 USD continues to hold, SOL may extend its bullish momentum until the next daily resistance level of 184.13 USD.

Similar to LTC, the RSI and MACD indicators on the Solana daily chart indicate that bullish momentum is strengthening.

Conversely, if SOL faces a pullback, it may continue its downtrend, finding support near the 61.8% Fibonacci retracement level, which is at $152.10, derived from the low of $95.26 on April 7 to the high of $187.23 on May 23.

(Source: Trading View)