This week, we take a closer look at Ethereum, Ripple, Cardano, Shiba Inu, and Dogecoin.
Ethereum (ETH)
After a 20% correction, ETH has recovered in a spectacular fashion in the past 24 hours with a 10% price increase. Nevertheless, the weekly chart still shows an 11% loss.
The price successfully tested the support at $3,300 and has since moved above $3,500. The current resistance is found at $4,000, and the last time ETH was there, sellers returned.
Looking ahead, ETH reversed the downtrend, and optimism returned to the market after a difficult start this week. If this cryptocurrency can break above $4,000, then the all-time high at $4,867 could be the next target.
Chart by Tradingview Ripple (XRP)
XRP closed the week with a 12% loss and has recovered somewhat since yesterday. The price found good support at 58 cents, and the current resistance is at 68 cents.
Bulls failed to break above that resistance in early March, but if the market sentiment continues to improve, then a second attempt could follow.
Looking ahead, XRP has been in a flat trend since late last year, and it did not manage to make a breakthrough towards new highs this year. Perhaps after the Bitcoin halving in April, XRP might be able to make new highs.
Chart by Tradingview Cardano (ADA)
Cardano suffered this week after its price crashed by 20%. Sellers took ADA to the key support level of 61 cents, and this level appears to be holding at the time of this post.
This deep correction may be quite disappointing to Cardano holders, but it was market-wide, and now a recovery is likely. As long as the price can stay above 61 cents, ADA can return on an uptrend.
Looking ahead, this cryptocurrency needs to move above 80 cents and turn that level into support before new highs become possible.
Chart by Shiba Inu (SHIB)
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