This week’s analysis focuses on Ethereum, Ripple, Cardano, Shiba Inu, and Toncoin, examining their recent performance and potential future trends.
Points
- Ethereum saw a 12% price increase, targeting $4,000.
- Ripple surged by 22%, aiming to secure the 54 cents support.
- Cardano increased by 7%, facing resistance at 46 cents.
- Shiba Inu experienced a 9% increase despite the WazirX hack.
- Toncoin’s price action was flat due to prior rallies.
This week’s crypto market analysis takes a closer look at the performance and future trends of Ethereum （ETH）, Ripple （XRP）, Cardano （ADA）, Shiba Inu （SHIB）, and Toncoin （TON）.
Ethereum （ETH）
Ethereum had a strong week, closing with a 12% price increase. This impressive recovery was driven by a market-wide rally, allowing ETH to turn $3,300 into a key support level. With this new base, buyers are now eyeing their next target of $4,000. The last time ETH tested this level was in May, when it faced rejection from sellers. As long as the bullish momentum is maintained, higher price levels become likely in the coming weeks.
Ripple （XRP）
Ripple outperformed much of the market, with its price rallying by 22% this week. This performance pushed XRP to nearly 64 cents, a level not seen since April. Currently, buyers are trying to secure the 54 cents support, following a pullback after the explosive rally. If successful, XRP could challenge the next resistance at 68 cents, bringing further gains.
Cardano （ADA）
Cardano also saw positive movement, increasing by 7%. The rally was halted by key resistance at 46 cents, preventing further gains. However, buyers have been defending the 40 cents support level effectively. Maintaining this support could shift momentum bullish, but breaking above 46 cents is crucial for sustained upward movement.
Shiba Inu （SHIB）
Despite a turbulent week marked by the WazirX hack, which saw 5.4 trillion SHIB tokens stolen, Shiba Inu managed a 9% price increase. The price is currently battling at the $0.000018 level. If buyers regain control, SHIB could return to an uptrend. The local trend remains bullish as long as SHIB avoids making a lower low.
Toncoin （TON）
Toncoin’s price action was flat this week, a contrast to the significant gains seen across the market. This stagnation is partly due to TON having previously rallied while the broader market was in correction. The current all-time high and resistance are at $8.3, with support at $6.8. Buyers are holding above key support, but the consolidation could last longer before a decisive run at resistance occurs.
解説
- Ethereum’s recovery is supported by a market-wide rally, with $4,000 as the next target if the bullish momentum continues.
- Ripple’s significant rally puts it close to a new resistance level, with the 54 cents support being crucial for further gains.
- Cardano faces resistance at 46 cents but maintains strong support at 40 cents, indicating potential for further movement if it breaks the resistance.
- Shiba Inu’s resilience despite the WazirX hack highlights strong community support and potential for recovery.
- Toncoin’s flat price action suggests a period of consolidation, with potential for future gains if resistance is broken.