OPINION: Market Dynamics of Ether, Ripple, Cardano, Shiba Inu and Polkadot
This week we take a deeper look at Ether, Ripple, Cardano, Shiba Inu, and Polkadot.The price of Ether (ETH) fell below $3,000, down 5% for the week. The current support level is at $2,900 and buyers will have to make every effort to maintain this level. If it fails, then the next major support level will be at $2,500. ripple (XRP) continues to run sideways, down 1% for the week. The current resistance level is at 54 cents, and the price does not seem to be able to break above this level at this point. As a result, XRP is more likely to trade sideways below the key resistance level. cardano ( ADA ) was rejected at the 46-cent resistance level and the price is in a downtrend, down 4% for the week. If buyers don't return soon, then ADA could make a new low, approaching the key support level of 40 cents.Shiba Inu (SHIB) lost the support level of $0.000025, which has turned into resistance, and as a result, the price is down 11% for the week.Polkadot (DOT)'s price has bounced back at the support level of $6.3, giving it a 3% price gain for the week . As long as this key support level holds, Polkadot has a good chance to challenge the $7.6 resistance level.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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