ETH, XRP, ADA, SHIB, DOGE

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

Ethereum (ETH)

After a 20% correction, ETH has rebounded nicely with a 10% price increase over the past 24 hours. Despite this, the weekly chart still shows a decline of 11%.

The price successfully tested the support at $3,300 and has since remained above $3,500. Current resistance is at $4,000, and the last time ETH was at resistance, sellers returned.

Looking ahead, ETH has reversed its downtrend and optimism has returned to the market after a tough start to the week. If the cryptocurrency can break above $4,000, its next target could be an all-time high of $4,867.

Ripple (XRP)

XRP ended the week down 12%, but has rebounded slightly from yesterday. The price has good support at 58 cents and current resistance is at 68 cents.

The bulls failed to break through that resistance level in early March, but a second attempt could follow if market sentiment continues to improve.

Looking ahead, XRP has been trending sideways since the end of last year, and was unable to break through to new highs this year. Perhaps, after Bitcoin's halving in April, XRP could make new highs.

Cardano (ADA)

Cardano has struggled this week with a 20% drop in price. Sellers pushed ADA to a major support level of 61 cents, and this level appears to be holding as of this posting.

While this significant correction may be very disappointing for Cardano holders, it was a market-wide one and is now likely to recover. As long as the price can sustain above 61 cents, ADA can return to an uptrend.

Looking ahead, the cryptocurrency will need to break above 80 cents and turn that level into support before new highs are possible.

Shiba Inu (SHIB)

Shiba Inu also plunged 20% this week and found good support at $0.000025. This level appears to be holding up well and may allow it to recoup some of its recent losses.

Resistance level is $0.000037. Once the price reached that level, sellers showed up en masse and stopped the rally. A second breakout attempt seems unlikely for now.

Looking ahead, this correction was expected after a massive rally in late February and early March. Once that is over, SHIB could reach new highs.

Dogecoin (DOGE)

DOGE plunged 18% this week and found good support at 13 cents. Buyers were strong there, and prices were able to recover some of the recent decline.

As long as buyers maintain that key level, DOGE could later return to an uptrend and hit new highs. Resistance is at 18 cents, which is the current recovery target.

Looking ahead, Dogecoin broke out of a long bear market in early March, giving buyers the green light to return. Once the 18 cents resistance turns into support, this meme coin could set new highs and continue its macro uptrend.