Crypto price analysis MAI-5: ETH, XRP, ADA, PEPE, TRX
Crypto price analysis MAI-5: ETH, XRP, ADA, PEPE, TRX
This week we take a closer look at Ethereum, Ripplecardano, Pepe and Tron.
Ethereum (ETH)
This week Ethereum tested the support at $ 1,800 again. The buyers showed strength and did not drop the course deeper, which is why ETH can be found at a similar level as last week due to the low volatility.
The current goal for this cryptocurrency is $ 2,000, which is also an important psychological level. In April the ETH managed to break it, but quickly lost ground when the sellers took over the price campaign. Another breakthrough over $ 2,000 would be quite forbeaous, but there is currently a lack of momentum.
With a view to the future, Ethereum has found a good basis to collect strength in the coming week. If the buyers return to the market, a new test of the key resistance seems to be right.
Diagram of Tradingview
ripple (XRP)
XRP is red and has completed the last seven days with a loss of 1.5 %. The price seems to test the key support at 43 cents. This would be the second time that XRP tests this support and could turn out to be a declining movement if the buyers do not return.
The key resistance is a whole piece away at 48 cents. The momentum indicators such as MACD and RSI are also declining, with the RSI falling below 50 points. The failure of XRP to keep its price in April over 50 cents was a declining signal, and the market did not hesitate to react.
With a view to the future, the bears currently seem to have the upper hand, and a break in key support could lead to this cryptocurrency increasing to 40 cents next.
Diagram by Tradingview
cardano (ada)
Cardano formed a declining head-shoulder formation that will soon dissolve. If this is confirmed, this would mean that the price could fall down. ADA also lost 5.4 % of his assessment last week.
Key support at 38 cents is of crucial importance for this cryptocurrency because it will determine the price movement in the coming weeks. The bears seem to have the upper hand at the moment, but things could still go in both directions.
look ahead , expect volatility if the price of important support approaches. If buyers cannot defend this critical level, Ada could fall next to 35 cents. The main resistance is 41 cents if the buyers should suddenly return.
Diagram of Tradingview
pepe (pepe)
The star of the past few weeks was Pepe, who had experienced a parabolic rally that had no longer been experienced since the beginning of Shiba Inu and Dogecoin. In the past week alone, Pepe was able to get over 600 %. This overwhelming performance is added to the euphoria created by Meme Coins.
Despite this performance, buyers should be extremely careful if they buy too late because nobody knows how long this bullish momentum can last. At some point the market equilibrium will reverse, and then it will rush to get out.With a view of the future, Pepe will continue to be in the spotlight in one way or another and has thrown a long shadow on other meme coins such as Doge, Shib or Floki.
Diagram of Tradingview
tron (trx)
tron surprised the market participants last week with an excellent performance and posted a price increase of 6.3 %, while most old coins are in the red area. The current resistance is 8 cents and the price could continue to rise until it reaches this level.
The upward trend for Tron started in November 2022, and so far he has managed to continue his rally. The current support is 6 cents and the momentum indicators have just become positive. For example, the day MacD made an interest bullish cross yesterday. This is significant.
With a view to the future, Trx could continue to increase in the coming days. The resistance at 8 cents seems to be the next significant obstacle.
Diagram of Tradingview
The article Crypto Price Analysis May-5: ETH, XRP, ADA, PEPE, TRX first appeared on Cryptopotato.
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