Ethereum (ETH)
- Ethereum has experienced a correction and lost 3.3% of its value this week.
- The support at $1,820 has held so far, but there is a possibility it may fail if selling pressure increases.
- Bulls are losing momentum, which could lead to a larger correction.
- It is crucial for the key support to hold.
Ripple (XRP)
- Ripple has been trading in a range between $0.42 and $0.46.
- The support at $0.42 has held, but the resistance at $0.46 remains strong.
- If Ripple breaks above $0.46, it could see a significant rally.
- On the other hand, if it falls below $0.42, it may experience further losses.
Cardano (ADA)
- Cardano has been consolidating between $1.20 and $1.40.
- The support at $1.20 has been tested multiple times and has held so far.
- If Cardano breaks above $1.40, it could see a bullish breakout.
- However, if it falls below $1.20, it may enter a bearish phase.
Binance Coin (BNB)
- Binance Coin has been trading in a range between $250 and $280.
- The support at $250 has held, but the resistance at $280 remains strong.
- A breakout above $280 could lead to further gains for Binance Coin.
- However, if it falls below $250, it may experience a decline in price.
Dogecoin (DOGE)
- Dogecoin has been trading between $0.25 and $0.30.
- The support at $0.25 has held, but the resistance at $0.30 is significant.
- If Dogecoin breaks above $0.30, it could see a surge in price.
- On the other hand, if it falls below $0.25, it may face further losses.
Overall, the cryptocurrency market is experiencing a correction, and the key supports for Ethereum, Ripple, Cardano, Binance Coin, and Dogecoin are crucial for determining their future price actions. Bulls are losing momentum, and if selling pressure intensifies, these supports may fail, leading to further losses. On the other hand, if these key supports hold and resistance levels are broken, we may see a bullish breakout.
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