ETH, XRP, ADA, SHIB and DOGE

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

Ethereum (ETH)

Ethereum is in a difficult situation. The price fell by 7% this week, and now all the pressure is on the key support of $3,350. If this level fails, the price may retreat below $3,000.

In the year The rally that started at October 2023 finally made a domestic high at $4,000, a key resistance. For this reason, this correction is important and can last for some time.

Looking ahead, if ETH fails to stop sellers at key support, the price may drop to $2,800.

Ripple (XRP)

XRP also suffered this week, and its price fell by 7%. Buyers failed to break above resistance at 68 cents, and the price soon fell.

The good news is that the key support is not far away – it is at 54 cents, and buyers can go back there to stop this correction.

Looking ahead, XRP will remain in a major flat trend through late 2023. The price action was indecisive in any direction and continued to bounce between key levels. This will continue.

Cardano (ADA)

The support at 61 cents could not stop the selling pressure, and the price is now below this key level, closing the week with a 10% loss.

Currently, the all-important support is at 46 cents, but the bears have a lot of work to do to get ADA that low. This situation is only possible if the market leaders remain complacent.

Looking ahead, this downtrend looks likely to continue for some time and may persist until key support is found. ADA holders should be patient and wait for support to become available.

Shiba Inu (SHIB)

Shiba Inu had a bad week after closing with a 17% loss, making it the best performer on our list. The price could not go higher and the bears were quick to take advantage of this weakness.

The current support is found at $0.000025, and the price may test this level before any reversal is expected. If buyers fail to show strength there, SHIB could fall further.

Looking ahead, SHIB has lost momentum since February, and since March, the price has struggled to make sustained gains. This correction under the $0.000037 key resistance looks set to continue for some time.

Dogecoin (DOGE)

DOGE's focus has faded this week after the price closed with a 16% loss. Bulls failed to break above the 21 cents resistance, and since then, it has started to pull back.

Sellers seem to be in control of price action and could take Dogecoin to support at 17 cents. If that fails to hold, 15 cents will be the next target for this correction.

Looking ahead, the overall market is in a correction, and meme coins are suffering because of it. Dogecoin needs to complete its pullback before any further progress is expected.