According to CryptoPotato, Ethereum (ETH), Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), and Polkadot (DOT) have experienced varying market trends this week. Ethereum fell by 3% with buyers struggling to defend the key support at $3,500. If sellers continue to exert pressure, Ethereum could face a challenging week ahead. To reverse the current downtrend, Ethereum needs to surpass $3,700, which could pave the way to challenge the key resistance at $4,000.
Ripple mirrored Ethereum's trend, falling by 2.7%. Despite the past five weekly candles closing in red, the price action shows some indecision from bears due to decreasing volume on the sell side. The price has managed to hold well above 46 cents and is moving sideways on the daily chart. If bulls make a stand here, they could aim to challenge the resistance at 54 cents.
Cardano had a better week with its price increasing by 4.8%. The key support at 37 cents held well, allowing buyers to return on the offensive. As long as the key support holds, this could signal that the correction for Cardano is over. Looking ahead, Cardano must maintain this bullish momentum and aim to challenge the resistance at 46 cents.
Dogecoin had a difficult time after its price broke under the 13.5 cents support. However, the price managed to move sideways and stop this correction due to low volatility. The current support is found at 10 cents. The chart remains bearish, but this is an opportunity for buyers to make a stand and take over the price action.
Polkadot made a recovery after an excellent bounce on the $5.3 key support. The price also increased by 10% this week, making it the best performer on the list. The biggest challenge for bulls is the key resistance at $6.7. This reversal has to break it if buyers want to take back full control over this cryptocurrency. Polkadot shows promise of a sustained reversal, with the key resistance that will decide where DOT goes next being a crucial factor to watch.