Alternative cryptocurrencies provide opportunities for profit in a changing market. This week, we’re focusing on Ethereum, Ripple, Cardano, Shiba Inu, and Dogecoin.
This article explores successful altcoins. However, investing carries high risks, with potential loss of all funds and no guaranteed protection. Fully understand these risks before investing.
Cryptocurrency Price Analysis: March 29
Ethereum (ETH): Ethereum’s price increased by 4%, but it struggled to go past the $3,300 support level. To catch up with Bitcoin, Ethereum must surpass $4,000. However, it closed the week with a 4% gain. While the long-term momentum is positive, Ethereum has been slower recently compared to Bitcoin. Breaking the $4,000 resistance is crucial for Ethereum to stand out and lead the market higher. Otherwise, it might continue to lag behind Bitcoin.
Chart by TradingView
Ripple (XRP): XRP’s price went up by just 1.7%, staying between 53 cents and 68 cents. It’s been stuck in this range for a while, and until it breaks out, it might not attract many buyers. Despite being flat, XRP hasn’t managed to break above 68 cents or below 53 cents for months. If it breaks the resistance at 68 cents, more buyers might come in. Otherwise, it could remain in this flat trend, which hasn’t interested many buyers so far.
Chart by TradingView
Cardano (ADA):
ADA ended the week with a 6% increase, staying slightly above the 61 cents support level. If buyers can keep the price above this support, ADA might aim to break the resistance at 80 cents. This could lead to a return to an uptrend, possibly reaching one dollar. Cardano, like Ethereum, saw a 6% increase, hovering just above the 61 cents support level.
Although bullish momentum isn’t strong yet, if buyers manage to move the price away from this support, they could target the 80 cents resistance. If ADA starts trending upwards again, it might reach one dollar, attracting more investors and boosting its price after the recent correction.
Chart by TradingView
Shiba Inu (SHIB): SHIB experienced a significant 14% increase, indicating a return to an upward trend. Although it’s still behind Dogecoin and faces resistance at $0.000037, if meme coins continue surging, SHIB could follow suit. Shiba Inu saw a notable 14% price increase this week, signaling a return to an uptrend.
Despite this, SHIB is trailing behind Dogecoin, which has already reached new highs this year. Currently, SHIB faces resistance at $0.000037.
Looking forward, if meme coins continue to rise, SHIB is in a good position to follow Dogecoin’s lead. Keep an eye on the key resistance level as it will determine SHIB’s next move.
Chart by TradingView
Dogecoin (DOGE): DOGE surged by an impressive 38.5% this week, reaching 21 cents, but it faces key resistance at this level. Buyers need to maintain momentum to turn this resistance into support. With traders speculating on its potential, DOGE aims to surpass its all-time high of 74 cents. Dogecoin saw a remarkable 38.5% increase this week, reaching 21 cents.
However, 21 cents remains a crucial resistance level. Buyers must sustain momentum to overcome this obstacle and turn it into support.
Looking forward, there’s significant speculation among traders about how high DOGE will go in this bull cycle. The ultimate goal is to surpass its previous all-time high of 74 cents.
Chart by TradingView
Summary of Cryptocurrency Price Analysis
- Ethereum (ETH) saw a 4% increase but struggled to surpass the $3,300 support level. Breaking above $4,000 is crucial for ETH to compete with Bitcoin.
- Ripple (XRP) experienced a minor 1.7% increase and remains within the range of 53 cents to 68 cents, struggling to attract buyers until it breaks out of this range.
- Cardano (ADA) closed the week with a 6% increase, hovering just above the 61 cents support level. A push away from this support could lead ADA to challenge the resistance at 80 cents.
- Shiba Inu (SHIB) witnessed a notable 14% increase, signaling a return to an uptrend. However, it faces resistance at $0.000037 and may surge if meme coins reach new highs.
- Dogecoin (DOGE) surged by 38.5%, reaching 21 cents. Sustained momentum is needed to turn this level into support, with speculation surrounding DOGE’s potential to surpass its all-time high of 74 cents.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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