Ethereum News Today: Ethereum Surges 10% to $3,840, Solana Consolidates, XRP Loses Momentum

Ethereum (ETH) has maintained a bullish trend, with its price hovering above $3,700. Despite a slight dip and profit-taking near $3,840, the cryptocurrency has shown continued buyer activity and increasing volume, indicating sustained market participation. The recent rally, which began in mid-July, saw ETH reach an all-time high of approximately $3,840 before experiencing a pullback to around $3,726.42. The price remains above the 20-period volume-weighted average, suggesting that bullish sentiment persists despite short-term fluctuations.

Solana (SOL) has been trading within a narrow range between $176 and $180, with no clear directional bias. The cryptocurrency hit a local high near $184 on July 18 before entering a consolidation phase. Recent price movements have been volatile, with a brief push above $182 followed by a sharp decline to $178.80. Volume has picked up alongside these movements, indicating heightened trader engagement and active monitoring of support and resistance levels.

XRP's early rally has fizzled out, with the cryptocurrency consolidating between $3.35 and $3.55 following a sharp price increase from under $3.00 to a local high of about $3.65 on July 18. The recent decline in volume suggests waning momentum and market indecision, with buyers showing little interest in sustaining the upward trend. Sharp volume spikes indicate attempts to re-enter the market, but these have not been sufficient to carry momentum.

The crypto market is currently experiencing heightened volatility, with Ethereum, Solana, and XRP exhibiting distinct technical perspectives. Ethereum's bullish trend is supported by increasing trading volume and a price above important moving averages. Solana, on the other hand, is stuck in a strong consolidation range with no directional bias, as short-term traders increase their activity in response to price volatility. XRP, once driven by an initial price rally, has entered a period of sideways trading with shrinking volume, suggesting a lack of buying force to sustain momentum.