ETH, XRP, ADA, SHIB and DOGE

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

Ethereum (ETH)

Ethereum's correction seems to be over, but the price could not go much above the key support at $3,300. However, ETH closed the week with a 4% price increase.

The overall momentum remains bullish on higher timeframes, but ETH has been underperforming lately, including against Bitcoin.

Looking ahead, this cryptocurrency needs to break above the $4,000 resistance to become competitive again and push the market higher. Otherwise, it is stuck in the shadow of Bitcoin.

Ripple (XRP)

XRP remained flat and unable to break out of the range, which is why its price only increased by 1.7% this week. The support is at 53 cents, and the resistance is at 68 cents.

This convergence between key levels has been going on for months, and XRP still hasn't had a major crash. The most significant was in July 2023 at 94 cents.

Looking ahead, XRP should break the resistance to bring back buyers. The option is a continuation of this flat trend that has struggled to attract the attention of buyers.

Cardano (ADA)

Cardano is similar to Ethereum, the price is only 61 cents from the key support. It closed the week with a 6 percent gain.

The bull momentum is not there yet, but if buyers can push the price past key support, they can challenge the current resistance at 80 cents.

Looking ahead, if this cryptocurrency returns on an uptrend, then it can finally approach a dollar, which will deceive market participants and renew the price action after this very recent correction.

Shiba Inu (SHIB)

Shiba Inu is back on the rise and managed to book a 14% price increase this week. That's an impressive return considering that most of the market is still recovering after this correction.

Despite this performance, SHIB still lags behind Dogecoin, which has already reached a new high this year. The current resistance is at $0.000037.

Looking ahead, meme coins look poised for new highs and SHIB is well positioned to follow in DOGE's footsteps. Watch for key resistance as it determines where the price will move next.

Dogecoin (DOGE)

DOGE is up an impressive 38.5% this week. After support at 13 cents stopped the correction, buyers came rushing back.

The price is now at 21 cents, which is a key resistance. Buyers need another push to turn this level into support. If this activity continues, they may be successful.

Looking ahead, Dogecoin will return to focus with traders on X speculating how high it will go in this bull cycle. The current all-time high is at 74 coins and this is a prime target for the oldest meme coin in crypto.