Crypto Price Analysis Oct-29: Ethereum, Cardano, Ripple, Shiba, and Doge

This week was intense in terms price action. We take a look at Ethereum and Ripple as well as Shiba and Doge.

Ethereum

Ethereum finally achieved a new all time high today after much anticipation. This new peak, which is $4,400, is somewhat disappointing considering that the previous peak was at $4,380. Although the bulls didn’t have the strength to push higher this week, it could change in the coming weeks. Overall, another positive week for ETH with a 6.3% rise.

Chart by TradingView

Some traders may have been confused by the price action during the week before, especially after the temporary drop below $4,000 on Oct 27th. However, it recovered one day later. The $4,000 and $4.400 levels of support and resistance are the same.

Ethereum looks ready to make a strong start in November, according to the future. The top resistance is being played by the bulls, which could soon fall as more pressure builds below it. Ethereum looks primed to continue its rally towards a new top in the daily timeframe.

Cardano

Cardano dropped below the range last week, but found support at the $1.9 level this week. This puts ADA back in the descending channel, and within the wider price range of $1.9 to $2.4.

Chart by TradingView

This also caused ADA’s indicators to be bearish for the daily timeframe. Bulls must wake up if they want to see the uptrend return. Overall, ADA did poorly with a 6.6% decline.

The bulls showed an interest in buying ADA at the new support. This has so far been a good sign. If the bulls continue to push the price higher than the descending channel, they might be able to attempt another break of the resistance at $2.4. Although it seems far off, a week is quite a long time for crypto to move.

Ripple

Ripple suffered a similar drop to ADA. Overall, XRP suffered a 2.6% drop over the last seven days. The support level at $0.96 was maintained and the price bounced back to the blue pennant. We are now back by a few more days, as XRP will need to again decide what direction to go. A break above $1.2 can quickly take it to the pennant, which acts as resistance.

Chart by TradingView

The pennant could be broken early next week. If the market is bullish, XRP may have a chance to escape and move higher.

The daily indicators do not look encouraging and XRP must move higher to reverse the bearish bias of the MACD. Although there is some hope, volume continues to disappoint. Volume can also be used to indicate the quality of the price. Volume is a measure of confidence in a price. Currently, confidence in XRP’s price is low.

Shiba

This past week, the excitement and euphoria was not focused on ADA or XRP. It was actually in another part of crypto community. This involved many memes, where Shiba dominated the spotlight with a whopping 146% rally this past week.

Chart by TradingView

The industry was abuzz about the surge, and the price eventually fell to $0.00008854, which is the highest ever recorded. Our last Shiba analysis revealed that all eyes now focus on $0.0001. Everyone is wondering if SHIB can lose another zero. This would definitely attract a lot attention.

Shiba found support at $0.0000600 and will likely consolidate under the all time high, before making another attempt to break out. On higher timeframes, such as daily, and above, the indicators are bullish, while lower timeframes, such as 4-hours, show a correction.

Shiba could possibly attempt to break the $0.0001 threshold in the week ahead.

Doge

Doge’s price action over the past week was intense. This was similar to Shiba. It was particularly intense on October 27th, 28th. Doge rallied after breaking through the blue pennant but was pushed down sharply by a flash crash on October 27th and 28th that wiped out the entire market. Doge rebounded with a 46% green candle the next day. Doge’s overall performance this week was 16.9%. This is an admirable performance.

Chart by TradingView

Doge’s current support is $0.255. The key resistances are $0.30 and $0.38. Breaking these levels could lead to a new rally. However, bulls seem to be weaker in the shorter time frames at the time this is written.

Doge’s indicators remain bullish for longer timeframes. This means that we can expect higher prices in the next week. Meme coins have performed better than the market lately and this trend could continue in the future. Doge is no exception.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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