Crypto NewsEthereum (ETH)

Ethereum, RippleCardano, Tron and ShibaInu

                                                            Diese Woche werfen wir einen genaueren Blick darauf Ethereum, RippleCardano, Tron und ShibaInu.

This is what awaits you in this article

Ethereum (ETH)

For the past week, ETH has seen high volatility, with the price surging towards the $3,000 resistance only to be sharply rebuffed to the critical $2,720 support on Thursday. Overall, ETH lost 7.3% of its valuation over the past seven days.

Market sentiment remains bearish and ETH is in for a tough week as the price is now atop the key support that will soon come under intense pressure from sellers. If this fails, the price of ETH could fall towards $2,500.

The outlook is bearish and the indicators for the daily timeframe and above are bearish. For example, the MACD moving averages are stretching as they fall, which is a sign of increased selling momentum. On the other hand, the RSI has plenty of room before it breaks into oversold territory below 30 points (currently at 42). It’s hard to be bullish in this context.
Ethereum, RippleCardano, Tron and ShibaInu, Crypto Trading NewsChart from TradingView

Despite a worthy attempt by XRP to break away from the key resistance at $0.65, the market turned around and pushed the price back into the current range supported at $0.58. This latest rejection pushed the price of XRP lower, ending the past seven days down 5%.

XRP indicators are looking more promising compared to ETH as XRP’s price appears to have bottomed, at least in the short-term, when key support was first tested on April 30. Since then momentum has shifted and XRP has been able to consolidate within its current range.

Looking ahead, XRP has a good chance of finally breaking out of its range if market sentiment improves as selling pressure appears to have eased in early May after a very difficult month in April when XRP’s price collapsed almost 40% .
Ethereum, RippleCardano, Tron and ShibaInu, Crypto Trading NewsChart from TradingView

If ETH has been volatile, Cardano has taken this to the next level over the past week. The price rose and fell almost 20% between last Wednesday and Thursday. Despite this volatility, the price lost only about 5% of its valuation compared to seven days ago after falling from Resistance was rejected at $0.85.

Even though ADA price shed most of its gains, the indicators are giving some bullish signals. The daily MACD completed a bullish crossover last Wednesday and it has continued to do so to date, even when the price returned to the key support at $0.75.

Looking ahead, based on price action and indicators, the outlook is somewhat bullish as long as the price of ADA can stay above the key support. It is best to be cautious in the coming week as market dynamics can change from one day to the next.
Ethereum, RippleCardano, Tron and ShibaInu, Crypto Trading NewsChart from TradingView

Tron (TRX)

Tron stood in the last few weeks announcing its new stablecoin called USDD, which is based on Terra’s UST and Luna model. This has resulted in a 23% price surge in the past 7 days after TRX broke the key resistance at $0.073 (which is now acting as support).

Tron’s new resistance stands at $0.093 and indicators have turned bullish over the past week. MACD has crossed to the positive side and buying pressure is building with high volume.

This upward momentum is likely to continue, especially as demand for stablecoins with good passive returns is high during a bear market. The USDD promises an APR of 30%, which would make it one of the best on the market if it can be sustained.
Ethereum, RippleCardano, Tron and ShibaInu, Crypto Trading NewsChart from TradingView

SHIB had another difficult week as the price failed to move far from the key support at $0.000020. The longer the price tests the key support level, the higher the probability of a breakdown. Overall, SHIB has lost nearly 12% of its rating over the past seven days.

SHIB prospects are bearish and buyers must do their best to defend the key support or SHIB’s next support will be found at $0.000017. The key resistance at $0.000028 is far away and the price is unlikely to revisit such levels anytime soon.

Looking ahead, SHIB holders need to prepare for the worst while hoping for the best. Unless market sentiment changes to turn bullish again, it is very difficult to see how SHIB can sustain above its current support.
Ethereum, RippleCardano, Tron and ShibaInu, Crypto Trading NewsChart from TradingView

Source: Crypto News Deutsch

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