💥💥💥 #CryptoPrice Analysis July-05: $ETH , $XRP , $ADA , DOGE , and DOT

1. Ethereum (ETH)

Ethereum dropped 16% this week amid broader market declines, including for Bitcoin. Major actors selling BTC, such as Germany or Mt. Gox, may have contributed to the crash. ETH is now testing the $2,800 support level, with a potential drop to $2,500 if it doesn't hold. The trend remains bearish, indicating further dominance by bears before any recovery.

2. Ripple (XRP)

XRP fell 15% this week, losing its support at $0.43, which has now become resistance. The current support at $0.38 is weak, especially with ongoing market weakness in ETH and BTC. It's advisable to wait for a bottom to form before considering buying, as the trend shows no sign of reversal.

3. Cardano (ADA)

ADA dropped 14% and made a lower low, with support at $0.31. The bearish trend continues, and further pressure could push the price below $0.30. Buyer interest is low, and bullish momentum seems distant.

4. #Dogecoin‬⁩ (DOGE)

DOGE plunged 23% this week, reflecting a lack of confidence and speculation in the market. The current support at $0.09 is weak, and DOGE could fall further if the bearish market persists. The trend is bearish, with meme coin euphoria currently absent.

5. Polkadot (DOT)

DOT declined 15% this week, finding temporary relief at the $5.30 support level. However, if the market remains weak, DOT could fall below $5. Bears have dominated since late March, and the bearish trend shows no signs of reversing.

Summary

This week saw significant losses across major cryptocurrencies:

- ETH: Testing $2,800 support, potential drop to $2,500.

- XRP: Lost support at $0.43, now testing $0.38.

- ADA: Support at $0.31, potential fall below $0.30.

- DOGE: Support at $0.09, further declines likely.

- DOT: Temporary support at $5.30, could fall below $5.

The overall market remains bearish with no immediate signs of recovery.

Source - cryptopotato.com