April 26 Crypto Price Analysis: ETH, XRP, ADA, SHIB and DOT
This week we take a closer look at Ethereum, ripple, Cardano, Shiba Inu and Polkadot.
Ethereum (ETH)
It looks like Ethereum’s downtrend will end as the price decides to move above the key support. Therefore, ETH closed the week with a 2% price increase.
This cryptocurrency is currently in a range between the $2,900 support and the $3,370 resistance. The longer it consolidates here, the more significant the eventual breakout will be.
Looking ahead, ETH has shown a bullish trend on the daily MACD, which could bring optimism and put the bulls back in control. The $3,370 resistance must fall to confirm the uptrend.
Chart by TradingView
Ripple (XRP)
Earlier this month, XRP failed to hold above 53 cents and fell as low as 43 cents, which currently acts as important support. XRP bounced from this level and managed to close the week with a 6% price increase.
Even if buyers manage to defend the price and keep it above 43 cents, they seem unable to push this cryptocurrency to new highs. Resistance is at 54 cents and could stall renewed buying interest.
Looking ahead, XRP has been stuck in a wide range since late 2023 and has failed to make a big breakout. This has not changed so far this year. Don’t expect a significant rise until this happens.
Chart by TradingView
cardano (ADA)
ADA managed to find good support at 46 cents and closed the week with a 2.6% price increase. As long as fundamental support holds, buyers may aim to regain control of the price movement.
Current resistance is at 61 cents and Cardano has not yet tested this level. If the support continues, a relief rally may follow. At this point testing the base resistance becomes possible.
Looking ahead, if buyers manage to stop the downtrend here, they may try to push this cryptocurrency back into an uptrend next month.
Chart by TradingView
shiba inu (SHIB)
Shiba Inu closed the week with a 14% price increase, making it the best performer on our list. This is an impressive rebound, considering the price hit new local lows a week ago.
Key support lies at $0.000025. So far buyers have managed to hang in there and protect SHIB from further selling pressure. Resistance lies at $0.000037.
Looking ahead, the ideal scenario for this meme coin is to reach above key support and eventually break into a new high in May.
Chart by TradingView
Polka Dot (DOT)
DOT’s price action is similar to Cardano and it managed to find good support above $6.7. Therefore, the price closed the week with a 1.8% price increase.
The correction appears to be coming to an end, and as long as key support is maintained, buyers can use this period to gather strength for the key resistance attempt, currently located at $7.7.
Looking ahead, DOT may consolidate here before trying to resume its uptrend. This depends on the overall market being bullish.
Chart by TradingView
The post April 26 Crypto Price Analysis: ETH, XRP, ADA, SHIB and DOT appeared first on CryptoPotato.
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