This week, we take a closer look at ethereum, Ripple, Cardano, Dogecoin, and Polkadot.
ethereum (eth)
ethereum fell by 3% this week and buyers seem to be struggling to defend the key support at $3,500. So far, they have managed to avoid a drop. If sellers keep up the pressure, eth could have a rough week ahead.
The last five weekly candles closed with a lower low. This puts the second-largest cryptocurrency in a clear downtrend. To reverse this, eth has to break above $3,700. That would also open the way to challenge the key resistance at $4,000.
Looking ahead, ethereum price is at a pivot point. Buyers must defend the support at all costs, otherwise eth could quickly fall towards $3,000 below.
Ripple (XRP)
XRP appears to mirror eth and also fell 2.7% this week. The last five weekly candles closed in the red, but the price action shows some indecision on the part of the bears due to decreasing volume on the sell side.
So far the price has managed to hold well above the 46 cents mark and is moving sideways on the daily chart. If the bulls take a stand here, then they might try to challenge the 54 cents resistance later on.
Looking ahead, XRP could consolidate below 50 cents before attempting to rise again. Hopefully, the key resistance can be broken in the next attempt to put this cryptocurrency back into an uptrend.
Cardano (ADA)
ADA had a much better week after its price rose by 4.8%. The key support at 37 cents held well and that allowed buyers to go back on the offensive.
So far, sellers seem absent, but they could soon return if the broader market remains bearish. However, as long as key support holds, this could indicate that ADA’s correction is over.
Looking ahead, ADA should maintain this bullish momentum and aim to challenge the resistance at 46 cents.
Dogecoin (DOGE)
Last week, DOGE went through tough times after its price broke through the 13.5 cent support. This week the price managed to move sideways and stop this correction thanks to low volatility. Sellers also seem to have lost interest.
The current support lies at 10 cents and the bears have not touched this level at the time of writing. A test could occur later if the buyers fail to propel DOGE into an uptrend.
The chart is still bearish, but this is an opportunity for buyers to take possession of the price.
Moles (POINT)
DOT finally recovered after an excellent bounce off the key $5.3 support. The price is also up 10% this week, making it the best performer on our list.
The biggest challenge for the bulls is the key resistance at $6.7. This reversal must be overcome if buyers want to regain full control of this cryptocurrency.
Looking ahead, Polkadot promises a sustained reversal. For confirmation, look at the key resistance that will decide where DOT heads next.
The post Cryptocurrency Price Analysis June 29: eth, XRP, ADA, DOGE, and DOT appeared first on CryptoPotato.
