Crypto price analysis from July-12: ETH, XRP, ADA, DOGE and DOT

This week, we take a closer look at Ethereum, Ripple, Cardano, Dogecoin, and Polkadot.

Ethereum (ETH)

After a rough start in July, Ethereum is up 7% this week and has regained some of its recent losses. In the process, the price fell over $3,000.

The biggest challenge now is to keep ETH going and keep this momentum going. At the beginning of this week, buyers came hard, but since yesterday, they are not there and the price shows.

Looking ahead, this second largest cryptocurrency still has good support at $2,800. So if the bears manage to push ETH lower again, buyers may return there.

Ripple (XRP)

XRP has surged 15% above the 38 cents support this week. At this rate, the price may test the key resistance at 54 cents in the near future.

This strong comeback by the bulls comes after a long period in which the price has been in an unrelenting downtrend. This could be the reversal that the community has been waiting for, or the emergence of a dead cat. It's too early to say for sure how this will play out at the time of this post.

Looking ahead, XRP should continue this momentum if confidence in this price action is to increase.

Cardano (ADA)

Similar to XRP, ADA rallied strongly from support at 31 cents and closed the week with an impressive 22% bounce. Additionally, if nothing changes on Sunday, the ADA will form a very bearish candle on the weekly chart.

This rally is promising and has erased some recent losses. Current resistance is at 46 cents and buyers should aim for the next one if they want to be serious about a sustained reversal.

Looking ahead, the market appears to have reached a tipping point where buyers will return. The question now is whether they can sustain growth for more than a few days.

Dogecoin (DOGE)

This week, DOGE finally showed some signs of life, regaining 10% of its 9 cent support. This was much needed, but after only a few days of control this week, buyers remain timid.

The current move does not give confidence that DOGE may challenge the resistance at 13 cents and a retest at 9 cents is likely if buyers remain again.

Despite this recent ups and downs, the trend is weak. This bias only changes when the key resistance falls.

Polkadot (DOT)

While the DOT has seen impressive growth from its $5.3 support, buyers haven't exactly followed suit lately. Still, this cryptocurrency closed the week with a 9% price increase compared to the previous one.

So far, the price is rising between key levels at $6.7 which serves as resistance. This level has not been challenged to date and hopefully buyers will try to break even in the near future.

Looking ahead, Polkadot seems to have stopped the downtrend and the price increase between key levels has moved into a flat trend. So, this time the bias is neutral.

The post Crypto Price Analysis July-12: ETH, XRP, ADA, DOGE and DOT appeared first on CryptoPotato.