ETH, XRP, ADA, SHIB and DOGE

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

ethereum (eth)

ethereum had a rough week and closed with a 10% loss. The price briefly fell below $2,400 and is currently attempting to reconfirm this level as support. If it fails, then sellers may have an opportunity to push it down.

This latest weekly candle erased all September gains and the bearish bias returned. So far, eth has not reached a lower low, but it is very close to one. Critical days are expected that could be decisive for the rest of the month.

Looking ahead, if this cryptocurrency continues to show weakness, its price may fall to $2,200. On the other hand, if buyers return, the price may return to $2,500.

Ripple (XRP)

XRP mirrored ethereum's price action and closed the week with an 11% loss. In the process, it also erased all of its September gains and is now below 54 cents, which used to serve as support. This level is now resistance.

If buyers do not reverse this price action in the coming days, XRP could fall much further, with the next major support at 48 cents. At the time of writing, the momentum is bearish.

Looking ahead, XRP's bearish trend may continue and only find relief at the 48 cent support. With the rejection of 66 cents, sellers have brought this cryptocurrency back to its same range since July.

Cardano (ADA)

ADA made a good attempt to break above 40 cents, but the sellers had other plans in mind and managed to reverse this price action completely. This is why ADA closed the week with a 12.5% ​​loss and has returned to its initial position since the beginning of September.

Yesterday, the price found good support around 33 cents, and a relief rally could occur over the weekend. However, it's hard to be optimistic after a week like this.

Looking ahead, Cardano will now need more time before it can escape the range between 32 and 40 cents, which has held its price hostage since August.

Shiba Inu (SHIB)

The recent market turmoil pushed SHIB into a deep correction, causing it to close last week with a 12% loss. Still, the price did not reach a lower low, giving hope that this correction may end soon and an uptrend may return.

After its strong rally in late September, the price was rejected at the $0.000020 resistance and fell to $0.000015, where buyers showed renewed interest. In the coming days we will know if the current bounce is a temporary relief or the beginning of a new attempt to break the key resistance.

Looking ahead, SHIB shows resilience despite volatility. As long as the price does not decline, market participants have reason to remain optimistic.

Dogecoin (DOGE)

DOGE also suffered and mirrored SHIB's price action with a 12% loss last week. After a strong rally at the end of September, the price suffered a complete reversal in the first days of October. At the time of writing, the cryptocurrency is at 10 cents and appears to be holding up well.

Despite the recent price drop, DOGE is still in an uptrend and could recover in the coming days as long as the 10 cent support is not lost. This may allow buyers to retry the 14 cent resistance, which, so far, has managed to stall any major rally.

Looking ahead, meme coins like DOGE appear to be better positioned to recover faster once market optimism returns. This depends on btc and eth not reaching new lows in the coming days.

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