ETH, XRP, ADA, SHIB and DOGE

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

Ethereum (ETH)

Ethereum had a good week after its price increased by 7%. Support at $3,350 halted the correction and allowed buyers to return. ETH has hit a local high and appears to be consolidating above key support.

The resistance at $4,000 has been unchallenged since early March and buyers may need more time to gather momentum before they get another go.

Looking ahead, ETH needs to ensure that the price stays above $3,350 to keep the result intact. However, sellers could come back to challenge that level again and any weakness could turn the chart back.

Ripple (XRP)

XRP remains in the range between 54 cents and 68 cents. The price has increased by 5% this week, but it does not have the energy to challenge the key resistance.

At the time of this post, XRP is hovering around 60 cents, which puts it in the middle of this range, and further sideways price action can be expected in the future.

Looking ahead, XRP has struggled to attract the attention of market participants and this can be seen in its lackluster price action for months. An exit from this region still appears to be a long way off.

Cardano (ADA)

ADA was up 3% this week, but overall price action in April was weak. Since March, the cryptocurrency has continued to make a low, and this has not changed since then.

The previous support at 61 cents has now been confirmed as resistance and the next key level is 56 cents. Although buyers seem determined to hold the price above 50 cents, they may soon come under pressure.

Looking ahead, if buyers can't find the 61 cents level as support, sellers will have more reasons to be aggressive and cut ADA.

Shiba Inu (SHIB)

Shiba Inu closed the week with a 4 percent gain. While this is a welcome change from March, when prices fell by double digits, SHIB still struggles to regain momentum.

As long as the key support at $0.000025 remains, buyers may dominate if market conditions begin to improve. The price action has formed a major point on the daily chart, suggesting that volatility may return.

Looking ahead, SHIB may reach a critical moment where the price will try to break out of the current consolidation and push above the resistance at $0.000037.

Dogecoin (DOGE)

This week, DOGE impressed with a 15.8% price increase, making it the best performer on our list. This is very different from other altcoins that struggle to stay green.

Somehow, Dogecoin has managed to stay at key resistance at 21 cents and doesn't look ready to let go. This can encourage buyers to create next time.

Looking ahead, if the bulls can take DOGE above the resistance and prove it as support, this meme coin will have a clear path to new highs this year.