June 29 Crypto Price Analysis: ETH, XRP, ADA, DOGE and DOT
This week we will take a closer look at Ethereum, ripple, Cardano, dogecoin and Polkadot.
Ethereum (ETH)
Ethereum is down 3% this week and buyers appear to be struggling to defend the key $3,500 support. They have managed to avoid a breakdown so far. If sellers keep up the pressure, ETH could be in for a tough week.
The past five-week candle closed with a lower decline. This puts the second largest cryptocurrency in a clear downtrend. To reverse this, ETH needs to rise above $3,700. This will also pave the way for challenging the key $4,000 resistance.
Looking ahead, Ethereum’s price is at an inflection point. Buyers must defend the support at all costs, otherwise ETH could quickly drop to $3,000.
Chart by TradingView
Ripple (XRP)
XRP appears to mirror ETH and is down 2.7% this week as well. The past five-week candle closed in the red, but price action suggests the bears are somewhat indecisive due to reduced volume on the sell side.
So far the price has managed to stay well above 46 cents and is moving sideways on the daily chart. If the bulls hold out here, they could later aim to challenge resistance at 54 cents.
Looking ahead, XRP could consolidate below 50 cents before another bullish attempt. Hopefully, the key resistance can be broken in the next attempt to get this cryptocurrency back into an uptrend.
Chart by TradingView
cardano (ADA)
ADA had a much better week after its price rose 4.8%. The key support at 37 cents held well, allowing buyers to come back on the attack.
So far, sellers seem to be out, but they could return soon if the overall market continues its downtrend. However, as long as the underlying support holds, this could signal that the ADA correction is over.
Looking ahead, ADA needs to maintain this bullish momentum and aim to challenge the next resistance at 46 cents.
Chart by TradingView
Dogecoin (DOGE)
Last week, DOGE had a hard time after its price fell below the 13.5 cent support. This week the price managed to stop this correction by moving sideways thanks to low volatility. Sellers also seem to have lost interest.
The current support is at 10 cents and at the time of writing the bears have not touched this level, a test may come later if the buyers fail to push DOGE into an uptrend.
The chart remains in a downtrend, but this is an opportunity for buyers to take over and take over the price action.
Chart by TradingView
Polka Dot (DOT)
DOT finally rebounded after an excellent bounce off the key support at $5.3. The price has also increased by 10% this week, making it the best-performing product on our list.
The biggest challenge for the bulls is the key resistance at $6.7. This reversal needs to disrupt this situation if buyers want to take back full control of this cryptocurrency.
Looking ahead, polkadot shows promise of a sustainable return. To confirm this, watch for underlying resistance that will decide where DOT goes next.
Chart by TradingView
The post Crypto Price Analysis June 29: ETH, XRP, ADA, DOGE, and DOT appeared first on CryptoPotato.
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