Crypto Price Analysis June-15: ETH, XRP, ADA, DOGE and DOT

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

Ethereum (ETH)

Ethereum lost momentum this week and closed with a 4.4% loss. Sellers took over the price action and pushed this cryptocurrency to key support at $3,500.

However, this pullback could be a normal test given the massive crash since the ETF's confirmation. As long as buyers keep the price above $3,500, there is no reason to worry too much.

Looking ahead, this is the second time this year that ETH has rejected the $4,000 resistance. Once this correction is over, a third attempt to break this key level may succeed. Moreover, the price continues to decline significantly on the weekly chart, which is a lot.

Ripple (XRP)

After XRP rejected resistance at 54 cents, the price entered a deep retracement. As a result, this cryptocurrency closed the week with a loss of 4%, and the bias is weak in the short term.

Until that key resistance is broken, buying interest seems unlikely to return to XRP. Volume and momentum will support sellers, but buyers may return at key support at 43 cents.

Looking ahead, XRP is in a difficult situation. In the year It could not make it higher in 2024, and until this changes, it seems unlikely that this cryptocurrency will attract the attention of the market.

Cardano (ADA)

This year, ADA's price action was more interesting compared to XRP as it briefly reached 80 cents. However, since then, the cryptocurrency has been in a sustained downward trend. This is why the price has decreased by 6.5% this week.

Sellers will remain dominant and will not be satisfied after taking prices below 50 cents. It looks like they are aiming to find the most important support on the chart at the moment, 37 cents.

Looking ahead, the ADA may continue to face some difficult weeks ahead. However, there is hope that the key support can stop this downward trend.

Dogecoin (DOGE)

The excitement surrounding Dogecoin faded in June, and the price closed this week with a 7.4% loss. At the time of this post, this meme coin is trying to hold above key support at 13.5 cents.

In past months, buyers have always bounced back strongly from key support, but retests of this level can be interpreted as bearish as it shows weakness.

Looking ahead, the bulls must do their best to defend against key support. A failure here could quickly see DOGE make a new low this year.

Polkadot (DOT)

DOT's price action mirrors that of XRP. It failed to break the key resistance at $7.6, and since then, it has struggled to return to the top. The price is down 5.5% this week.

The current support is at $6, and this is the last level that can hold the price from new lows this year. DOT should do everything possible to avoid a minimum in 2024, which would shift the rate to a higher timeframe.

Looking ahead, Polkadot remains in the dark trend. Until the overall crypto market recovers, this cryptocurrency may have a tough time with most other altcoins.

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