Cryptocurrencies to Watch This Week: Ethereum, Ripple, Cardano, Dogecoin, Shiba
We will be taking a closer look at Ethereum, Ripple, Cardano, Dogecoin, and Shiba Inu this week. Ethereum (ETH) seems to be wanting to get back into an uptrend. This has allowed the price to increase by 4.5% in the past seven days. If the current m[...]
This week, we take a closer look at Ethereum, Ripple, Cardano, Dogecoin, and Shiba Inu.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
If the current momentum continues, then ETH may attempt to challenge the key resistance at $1,725 in the coming week. This would be a significant increase from the current price, and would signal a return to the uptrend for Ethereum.
Gold prices have been volatile in recent days, but appear to be stabilizing around the $1,500 level. Some support is also evident at $1,380, which has stopped selling pressure in the past. As long as prices continue to make higher lows, the overall bias is skewed toward the buy side.
Looking ahead, ETH appears to be poised for a breakout above the key resistance level at $1,725. This would be extremely bullish for the cryptocurrency, and could turn sentiment decisively in favor of further gains in the months ahead.
Ripple (XRP) is a digital currency that enables instant, global payments.
It is clear that XRP is struggling to gain any real traction at the moment, with the cryptocurrency stuck at the key support level of $0.44. This has been the case since mid-October, and is a sign of weakness in the market. With no real momentum behind it, XRP is now trading at a similar price to where it was seven days ago.
It's clear that buyers and sellers are both hesitant to make any big moves with XRP at the moment. Prices have been stuck in a range for some time now, but it looks like bulls may have the upper hand. If the current consolidation period is any indication, it seems that prices could soon start to move higher.
It is still early to tell whether or not XRP will be able to break through the key resistance at $0.55, but the indicators are starting to look promising. If volume resumes, XRP could see a significant rally in the near future.
Cardano (ADA) is a cryptocurrency that offers a unique blend of features and potential.
It looks like Cardano is ready to make another push higher after a short correction last week. Bears were unable to keep the price from rising above the key resistance level at $0.42, but now it looks like ADA is poised to make another attempt. If successful, this could result in a 5% price increase for the cryptocurrency over the next seven days.
It looks like Cardano is in a good place to continue its bullish momentum, which started back in late October. The support at $0.38 has held well during the correction from last week, and it doesn't seem like the price will revisit this level anytime soon. If volume returns, Cardano is well-positioned to continue moving higher.
If the price of ADA manages to break above $0.42, then it has a clear path towards $0.50, which would be the next key target to watch. The daily indicators remain bullish, and the only thing that is missing is volume. If volume returns next week, then ADA is likely to move higher.
Dogecoin (DOGE) is a cryptocurrency
Even though it has taken a break from its explosive moves, Dogecoin is still up 58% in the past seven days, making it the best performer on our list this week. This rally came as a surprise to the market, and DOGE is now consolidating above the $0.11 support level.
With Elon Musk taking control of Twitter, anything is possible, including making Dogecoin one of Twitter’s go-to cryptocurrencies for payments. This would be a huge boost for the cryptocurrency, which has already seen a lot of success thanks to Musk’s support.
Looking ahead, DOGE may continue to rally with the next target at $0.19. However, this may be contingent on more bullish news, which, if missing, may stall the momentum and push this cryptocurrency into a stronger pullback to the key support. Nonetheless, many remain optimistic about the future of DOGE and believe that it has the potential to continue rallying in the days and weeks ahead.
Shiba Inu (SHIB) is a Japanese breed of dog that is known for its loyalty and intelligence.
It is clear that the Shiba Inu token is trying to follow in the footsteps of Dogecoin, but it has not yet received the same level of attention. Even so, SHIB has still achieved excellent performance, with a 17.5% price increase in the last seven days. In the process, the key resistance at $0.000014 was touched briefly before a pullback followed.
It would appear that the appetite for meme coins is increasing, which highlights that market participants are ready to take more risks, and this is bullish. SHIB used this level to launch its rally once Dogecoin started to move, which indicates that there is strong support for these types of assets at this time.
Looking ahead, SHIB should continue to follow in the footsteps of Dogecoin, therefore it is best to closely monitor the price action of DOGE as it has become a reference index for meme coins. The biggest challenge for Shiba Inu at this time is to break the key resistance. If successful, then expect to see the price quickly move toward $0.000018.
It is our vision that the post Crypto Price Analysis Nov-4: ETH, XRP, ADA, DOGE, and SHIB will help our readers better understand the current state of the cryptocurrency market.