ETH, XRP, ADA, DOGE, and SHIB

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

Ethereum (ETH)

This week’s price action has been dominated by bulls, and Ethereum booked an impressive 12.6% price increase. The momentum turned bullish in a matter of days, and now the price is expected to continue rising.

Ethereum found good support at $1,660, which has acted as a pivot for the current rally. In the process, the $1,820 resistance turned into support, and the next targets for this cryptocurrency are found at $2,000 and $2,100.

Looking ahead, ETH has a good chance of recovering most of the losses since April and retesting the key resistance at $2,100, if the buyers succeed here.

Ripple (XRP)

Ripple showed a lot of strength when most altcoins were in the red, but once the general market turned bullish, it failed to capitalize on that sentiment. Because of this, XRP booked a price increase of only 3% this week.

The biggest hurdle for this cryptocurrency at the moment is the key resistance at 53 cents which has so far managed to stop buyers from taking the price higher. However, as the volatility increases, there may be more attempts to break out soon.

Looking ahead, XRP appears to be consolidating below a major resistance, and in case of any pullback, the key support at 44 cents should do a good job of stopping the sellers.

Cardano (ADA)

Cardano finally managed to put an end to its long downtrend after finding strong support at 24 cents. The price rose in sync with the rest of the market and booked a 12.2% increase in price which is comparable to Ethereum.

Sentiment around ADA is turning bullish, especially since buyers managed to push the price up to 30 cents. The bigger question now is whether the bulls can keep the price at this key level, as any weakness could turn this level into resistance.

I look forward, ADA is well positioned to move higher, but this may depend on overall market movements. Keep a close eye on Ethereum for an indication of where the market will move next, as Cardano may follow closely.

Dogecoin (DOGE)

Dogecoin turned bullish as well this week and managed to post a price increase of 7.7%. This has halted the bearish momentum and given the bulls a much needed relief. The current support is at 6.5 cents, and the main resistance is at 7.3 cents.

And while momentum indicators have turned bullish, it is too early to tell if this will be a sustainable rally or just a temporary relief. As long as the major resistance is in place, the sellers can come back to push the price down again.

Looking ahead, Dogecoin has to do its best to protect the key support level at 6.5 cents, as any weakness is likely to be quickly exploited by the bears who controlled most of June.

Shiba Inu (sheep)

SHIB made an impressive recovery from its $0.0000065 support and booked a 16.3% price increase this week, making it the best performer on our list.

The immediate resistance is at $0.0000078, and the sellers seem to be holding the price at this level after pushing any breakout attempt lower. However, buyers are still eager to move the Shiba Inu up.

Looking ahead, this is the first time since February that this cryptocurrency has managed to rally significantly. The challenge for the buyers is to maintain this momentum which has proven difficult in the past.