This week’s cryptocurrency Market Analysis focuses on Ethereum (ETH), Ripple (XRP), Cardano (ADA), Shiba Inu (SHIB), and Tron (TRX).
Ethereum’s price has been experiencing low volatility and has incurred a modest loss of 1.7% this week. The bulls have been unable to push the price above the key resistance level of $1,660. Support levels are currently found at $1,550 and $1,440, with the latter being the strongest level to stop sellers. Ethereum remains in a downtrend, and if nothing changes, a test of the key support at $1,440 is likely in the next few weeks, especially if Bitcoin breaks below $25k.
Ripple has been consolidating around 50 cents and closed the week with a minor loss of 1.7%. It has strong support at 47 cents, which could be tested again if sellers return. The resistance is at 56 cents, but buyers have not been able to test this level. The overall price action remains bearish, and the cryptocurrency is likely to continue holding around 50 cents as long as the support at 47 cents is not breached. A recovery could follow once the consolidation ends.
Cardano is also experiencing a flat trend above the key support at 25 cents. It recorded a minor loss of 1.3% this week as sellers failed to break the support level. However, if more tests occur, buyers could become exhausted, creating an opportunity for a breakdown. The price action appears fragile to any renewed volatility across the Market, and if BTC and ETH drop lower, ADA could revisit 24 cents.
Shiba Inu’s downtrend continues, and it recorded a 5.5% loss this week, making it the worst performer on the list. The current support is at $0.0000075, and while it has held so far, sellers could take the price lower if the bearish sentiment persists. SHIB has lost all its gains made in August and could potentially reach new lows this month.
Tron is the outlier in this list, as it managed to register a 1.8% increase this week while most altcoins were in the red. Tron has been in an uptrend since the beginning of the year, making higher lows and higher highs. It has support at $0.077, and if buyers persist, they could push the price back to the key resistance at $0.086. The uptrend is expected to continue for some time.
Overall, the cryptocurrency market Analysis shows that Ethereum, Ripple, Cardano, Shiba Inu, and Tron are experiencing mixed performance. Ethereum and Shiba Inu are in a downtrend, Ripple and Cardano are experiencing consolidation, and Tron is in an uptrend. The market remains volatile, and the performance of these cryptocurrencies is influenced by factors such as Bitcoin’s price movement..
#Crypto #Price #Analysis #Sep08 #ETH #XRP #ADA #SHIB #TRX
Ethereum’s price has been experiencing low volatility and has incurred a modest loss of 1.7% this week. The bulls have been unable to push the price above the key resistance level of $1,660. Support levels are currently found at $1,550 and $1,440, with the latter being the strongest level to stop sellers. Ethereum remains in a downtrend, and if nothing changes, a test of the key support at $1,440 is likely in the next few weeks, especially if Bitcoin breaks below $25k.
Ripple has been consolidating around 50 cents and closed the week with a minor loss of 1.7%. It has strong support at 47 cents, which could be tested again if sellers return. The resistance is at 56 cents, but buyers have not been able to test this level. The overall price action remains bearish, and the cryptocurrency is likely to continue holding around 50 cents as long as the support at 47 cents is not breached. A recovery could follow once the consolidation ends.
Cardano is also experiencing a flat trend above the key support at 25 cents. It recorded a minor loss of 1.3% this week as sellers failed to break the support level. However, if more tests occur, buyers could become exhausted, creating an opportunity for a breakdown. The price action appears fragile to any renewed volatility across the Market, and if BTC and ETH drop lower, ADA could revisit 24 cents.
Shiba Inu’s downtrend continues, and it recorded a 5.5% loss this week, making it the worst performer on the list. The current support is at $0.0000075, and while it has held so far, sellers could take the price lower if the bearish sentiment persists. SHIB has lost all its gains made in August and could potentially reach new lows this month.
Tron is the outlier in this list, as it managed to register a 1.8% increase this week while most altcoins were in the red. Tron has been in an uptrend since the beginning of the year, making higher lows and higher highs. It has support at $0.077, and if buyers persist, they could push the price back to the key resistance at $0.086. The uptrend is expected to continue for some time.
Overall, the cryptocurrency market Analysis shows that Ethereum, Ripple, Cardano, Shiba Inu, and Tron are experiencing mixed performance. Ethereum and Shiba Inu are in a downtrend, Ripple and Cardano are experiencing consolidation, and Tron is in an uptrend. The market remains volatile, and the performance of these cryptocurrencies is influenced by factors such as Bitcoin’s price movement..
#Crypto #Price #Analysis #Sep08 #ETH #XRP #ADA #SHIB #TRX
