This week, we take a closer look at Ethereum, Ripple, Cardano, Shiba Inu, and Polkadot.
Ethereum (ETH)
Ethereum broke under $3,000 and closes this week with a 5% loss. This latest crash in the price made a lower low which shows bears are still in control of the price action.
The current support is at $2,900 and buyers have to protect this level at all costs. If they fail, then the next major support will be found at $2,500.
Looking ahead, ETH was quickly rejected at the $3,350 resistance in late April. Since then, the price has been in a downtrend. The bias remains bearish, but hopefully May can bring better news for this cryptocurrency.
Chart by TradingViewRipple (XRP)
Ripple continues to move sideways and closes the week with a 1% loss. While this is not much,