• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Ethereum, Cardano, Ripple, Shiba, and Doge

October 29, 2021
in Crypto News
Reading Time: 5 mins read
A A
0
Ethereum, Cardano, Ripple, Shiba, and Doge
0
SHARES
6
VIEWS
ShareShareShareShareShare

This week was very intense in terms of price action, and we take a look at Ethereum, Cardano, Ripple, Shiba, and Doge.

Ethereum

After a lot of anticipation, Ethereum has finally managed to set a new all-time high today. At $4,400, this new peak is a bit of a disappointment considering the previous one was at $4,380. The bulls did not have the strength to push higher, but this may change in the following week. Overall, another good week for ETH with a 6.3% rally.

img2_eth
Chart by TradingView

 

The price action in the previous week may have made some traders dizzy, particularly because of that short-lived drop below $4,000 on October 27th, which recovered a day later. The key support and resistance remain at $4,000 and $4,400, respectively.

Looking ahead, Ethereum seems prepared to have an excellent start in November.  The bulls are playing with the top resistance, and that can soon fall again as pressure continues to build up below it. On the daily timeframe, Ethereum appears primed for a continuation of this rally in the search for a new top.

Cardano

This week, Cardano fell below the range discussed last week and found support on the $1.9 level. This places ADA back into the descending channel and within the larger price range of $1.9 and $2.4.

img3_ada
Chart by TradingView

This drop also made ADA’s indicators bearish on the daily timeframe. Therefore, bulls need to wake up if there is hope to bring the uptrend again. Overall, ADA performed poorly this week with a 6.6% drop.

The bulls did show appetite to buy ADA at the new support, which so far has held well. If this is sustained in the new week, perhaps the bulls can push the price above the descending channel again and attempt a new try to break the resistance at $2.4. That seems a bit far away, but a week in crypto is a lot of time for the price to move.

Ripple

Similar to ADA, Ripple also suffered a sharp drop from the descending triangle discussed last week. Overall, XRP disappointed with a 2.6% decline over the past seven days. The support at $0.96 held, and the price bounced back into the blue pennant. This brings us back by a few days as XRP will again need to decide which way to go. A break above the pennant can take it quickly to $1.2, which acts as resistance.

img1_xrp
Chart by TradingView

A break of the pennant can be expected early next week. If the overall market remains bullish, XRP has a good chance to try an escape and move higher.

However, the daily timeframe indicators are not that encouraging, and XRP needs to move higher to change the bearish bias on the MACD. There is some hope since on lower timeframes, such as the 4-hour, the MACD did a bullish cross yesterday, but volume continues to disappoint. Volume can be interpreted as the quality of the price. The higher the volume, the higher the confidence in a particular price. Confidence in XRP price right now is rather low.

Shiba

The excitement and euphoria were not around ADA or XRP this past week. Rather, it was in another section of the crypto community, and it involved a lot of memes where Shiba took the spotlight with no less than a 146% rally this week.

img5_shib
Chart by TradingView

The surge was the headline across the industry, and the price finally came to a break once it hit the current all-time high of $0.00008854. As already indicated in our last Shiba analysis, all eyes are now on the key level of $0.0001. The big question in everyone’s mind is, can SHIB lose another zero? That would certainly gather a lot of attention.

Until then, Shiba has found support on the $0.0000600 level and is expected to consolidate further under the all-time high before another attempt is made at a breakout. The indicators remain bullish on higher timeframes such as daily and above, while on lower timeframes like 4-hours, the correction appears completed.

Looking ahead into the coming week, there is a possibility Shiba can attempt a break of the $0.0001 level.

Doge

Similar to Shiba, Doge’s price action this past week was rather intense, particularly on October 27th and 28th. After breaking above the blue pennant, Doge started to rally but was sharply pushed down during a flash crash that took the whole market down on October 27th and 28th. Nevertheless, Doge bounced back with a 46% green candle a day later. Overall, this week Doge rallied 16.9%, which is a very respectful performance.

img4_doge
Chart by TradingView

The current support for Doge can be found at $0.255, and the key resistances ahead are at $0.30 and $0.38. Breaking these levels could propel it in a significant new rally. Yet, at the time of this writing, bulls appear to be weaker on the lower time frames.

The indicators on Doge remain bullish on higher timeframes. This leads to an expectation to see higher price levels in the coming week. Meme coins have performed much better than the overall market lately, and this trend may continue in the future as well. Doge is no different.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Monthly Roundup of Cryptocurrency News 29/10/2021

Next Post

See Line Item in Action with a Live Webinar or Product Demo

Related Posts

New referendum-led governance structure proposed for Polkadot
Crypto News

New referendum-led governance structure proposed for Polkadot

June 30, 2022
4
BlockFi Gets Money Services License in Iowa Weeks After Paying a $1M Penalty
Crypto News

BlockFi Gets Money Services License in Iowa Weeks After Paying a $1M Penalty

June 29, 2022
4
MakerDAO to invest $500 million in U.S. securities and bonds
Crypto News

MakerDAO to invest $500 million in U.S. securities and bonds

June 29, 2022
5
ChangeNOW’s Mike Ermolaev on Non-Custodial Wallets vs. CEXs in Forbes Interview
Crypto News

ChangeNOW’s Mike Ermolaev on Non-Custodial Wallets vs. CEXs in Forbes Interview

June 29, 2022
8
Snoop Dogg on crypto winter and why its good for the industry
Crypto News

Snoop Dogg on crypto winter and why its good for the industry

June 29, 2022
6
Next Post
See Line Item in Action with a Live Webinar or Product Demo

See Line Item in Action with a Live Webinar or Product Demo

Recommended

Strategic Cost Management Helps Energy Companies Uncover Supply Chain Inefficiencies

Strategic Cost Management Helps Energy Companies Uncover Supply Chain Inefficiencies

June 13, 2022
7
Oil Company Gazpromneft To Launch a Cryptocurrency Mining Operation With BitRiver

Oil Company Gazpromneft To Launch a Cryptocurrency Mining Operation With BitRiver

June 18, 2022
5
Bitcoin Cash to trend below $100 as weakness in crypto bites

Bitcoin Cash to trend below $100 as weakness in crypto bites

June 20, 2022
5
BTC/USD Pressured Below 29301: Sally Ho’s Technical Analysis 13 June 2022 BTC

BTC/USD Pressured Below 29301: Sally Ho’s Technical Analysis 13 June 2022 BTC

June 13, 2022
7
Google’s latest Pixel feature drop includes a Teenage Engineering music app

Google’s latest Pixel feature drop includes a Teenage Engineering music app

June 7, 2022
5
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • Couche-Tard says high prices boost sales of cheap beer & tobacco
  • New referendum-led governance structure proposed for Polkadot
  • Economic Pressures Contribute to Finance Leaders Improving Last-Mile Readiness

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?