According to CryptoPotato, Ethereum, Ripple, Cardano, Shiba Inu, and Dogecoin have all experienced changes in their market performance this week. Ethereum (ETH) saw a 7% increase in its price, with the support at $3,350 preventing further correction and allowing buyers to return. However, the resistance at $4,000 remains unchallenged since early March, indicating that buyers may need more time to gather momentum.
Ripple (XRP) remains in a range between 54 cents and 68 cents, with a 5% increase in price this week. Despite this, it lacks the momentum to challenge the key resistance and is currently hovering around 60 cents. The cryptocurrency has struggled to attract market attention, resulting in a lack of clear momentum for months.
Cardano (ADA) managed a 3% increase this week, but the overall price action in April has been bearish. The former support at 61 cents has now been confirmed as resistance, and the next key level is 56 cents. If buyers fail to reclaim the 61 cents level as support, sellers may become more aggressive and push ADA lower.
Shiba Inu (SHIB) closed the week with a 4% price increase. Despite this, SHIB still struggles to find its bullish momentum. As long as the key support at $0.000025 holds, buyers could have the upper hand should market conditions improve. The price action also formed a large pennant on the daily timeframe, suggesting that volatility may return.
Dogecoin (DOGE) impressed with a 15.8% price increase, making it the best performer on the list. Dogecoin managed to stay just under the key resistance at 21 cents and does not appear ready to let go. This may encourage buyers to attempt a breakout next. If the bulls manage to take DOGE above the resistance and confirm it as support, then this meme coin will have a clear path towards new highs this year.
