Cryptocurrency Market Overview June 29: Analysis of ETH, XRP, ADA, BNB, and DOGE Prices

This week, we examine Ethereum, Ripple, Cardano, Binance Coin, and Dogecoin in detail.

Ethereum (ETH)

Following a notable surge from $1,660, Ethereum struggled to surpass $1,930 as the broader market shifted to a bearish trend. Consequently, ETH has entered a correction phase, resulting in a 3.3% decline in its value over the past week.

Fortunately for buyers, the support level at $1,820 appears robust, and the price has managed to remain above this mark so far. However, should selling pressure escalate, this support may be compromised.

Looking forward, ETH’s price movements suggest a waning momentum for bulls, which could lead to a more pronounced correction. It is essential that the critical support level is maintained.

Chart by TradingView

Ripple (XRP)

After being rejected at 53 cents, XRP underwent a significant correction, dropping to 45 cents. During this period, the cryptocurrency experienced an 8.7% decline over the last week.

Even if this correction persists, XRP has solid support at 44 cents. This level has previously served as a crucial reversal point, providing buyers a favorable opportunity to re-enter the market.

Looking ahead, XRP remains in a bearish trend, but with support nearby, it may attempt a reversal in the upcoming week. This will depend on the overall market, which has shown hesitation to advance in recent days.

Chart by TradingView

Cardano (ADA)

Unfortunately for Cardano investors, the cryptocurrency was unable to maintain a position above 30 cents. This situation has given sellers an advantage, resulting in a 9.3% decline over the past week, making ADA the poorest performer on our list.

While the current momentum appears bearish, the support at 24 cents is expected to provide a strong defense if sellers try to revisit this level.

Looking forward, ADA may continue to decline in the short term, but buyers are likely to return once the price discount becomes too appealing to ignore, similar to the situation in early June.

Chart by TradingView

Binance Coin (BNB)

Binance Coin faced challenges in June, plummeting from $300 to $220. The price remains bearish, with a 7.3% loss this week.

With solid support at $230, BNB could see a potential reversal if buyers can maintain this critical level. Historically, the price has rebounded here but faced resistance at $260.

Looking ahead, this cryptocurrency faces a challenging outlook, particularly as regulatory pressures on Binance are likely to impact BNB’s price.

Chart by TradingView

Dogecoin (DOGE)

In mid-June, Dogecoin had a promising opportunity to rally, but bears prevented the price from exceeding 7 cents. Since then, DOGE has turned bearish, experiencing a 7.9% decline just this week.

The current resistance is at 6.5 cents, while support is located at 5.7 cents. With momentum currently favoring sellers, it is difficult to envision how DOGE could reverse this downward trend.

Looking ahead, if bears continue to dominate in the upcoming week, a test of the key support at 5.7 cents seems likely.

Chart by TradingView

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Cryptocurrency charts by TradingView.