This week we'll take a closer look at Ethereum, Ripple, Cardano, Shiba Inu, and Dogecoin.
Ethereum (ETH)
Ethereum price reached $4,000 this week, and the price managed to rise by 5%. However, sellers seem keen to come back and push this cryptocurrency lower.
If the $4,000 resistance level is not breached soon, the price may fall to the major support level at $3,345. The pullback should not be surprising, given that ETH has not seen a correction in over a month.
Looking ahead, ETH remains in an uptrend even if the price falls to key support, and a healthy pullback may be needed before it can make new highs to challenge the all-time high at $4,868.
Ripple (XRP)
XRP managed to rise to 74 cents last week and achieved a respectable price increase of 9%. Since then, the price has been declining.
Bulls and bears are currently fighting at the 68 cent level. The winner will decide whether this level turns into resistance or support.
Looking ahead, XRP could reach 93 cents next if buyers win this battle. If they fail, sellers may push the price back to support at 53 cents.
Cardano (ADA)
Cardano had a good week and managed to rise by 7%. Current resistance and target for this rally are at 85 cents.
Support remains at 61 cents, and is unlikely to be tested if buyers continue to maintain this momentum. The bias is bullish in this price action.
Looking ahead, ADA is slowly approaching the $1 level, a key psychological level. Once there, sellers may return to taking profits after this rally.
Shiba Inu (SHIB)
The Shiba Inu is consolidating below the major resistance level at $0.000037 but still managed to post an 8% price increase this week.
The price action appears to be forming a pennant on lower time frames, which may indicate a continuation. If so, key resistance may be put under pressure soon.
Looking ahead, SHIB is well positioned to achieve new highs after this pause. If sellers return, this cryptocurrency has good support at $0.000025.
Dogecoin (DOGE)
DOGE had a great week with a 23% price increase, making it the best performer on our list. Its momentum is similar to SHIB and it may soon try to break the resistance at 21 cents.
The price has found good support at around 16 cents, and buyers seem determined to take it to a new high this year.
Looking to the future, this meme is likely to gain market attention, considering that its all-time high is 74 cents, which is still far from current price levels.
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