Crypto Price Analysis September-27: ETH, XRP, ADA, SHIB, and DOGE

Cryptocurrency Price Analysis: ETH, XRP, ADA, SHIB, and DOGE

Ethereum (ETH)

Ethereum concluded another positive week with a 4% price surge. Buyers remain bullish and pushed the price above $2,600, targeting $2,800, which serves as crucial resistance.

Momentum has shifted bullish since September, and the price has broken free from the downtrend that began in March. This has brought renewed optimism to the market, and ETH stands to benefit.

In the near term, the price is poised to test the current resistance level. In case of a sell-off, ETH has ample support at $2,400.

Ripple (XRP)

XRP remains stagnant, exhibiting no price movement compared to last week. This deviation is notable in light of the overall market's upward trajectory, driven by Bitcoin and altcoins, especially meme coins.

The price remains below 60 cents, and buyers have been unable to breach this level in September. A breakout could reignite momentum for XRP.

However, trading volume is declining, and the cryptocurrency has struggled to find traction. Without a return of momentum and volatility, significant price movements are unlikely.

Cardano (ADA)

ADA had an exceptional week, posting a 12% increase. This surge came after buyers surpassed the resistance at 36 cents, which had capped the price for most of the month.

Bulls are currently attempting to establish 40 cents as key support. If successful, ADA has a strong chance of moving higher to its next target of 48 cents.

Momentum remains positive, favoring a continuation of this price action. ADA could soon approach 50 cents, a level it lost in May.

Shiba Inu (SHIB)

Meme coins are back in the spotlight, and Shiba Inu is no exception. Its price skyrocketed this week, exploding by an impressive 34%. SHIB has regained attention, and buyers are flocking to it.

After finding support at $0.000014, buyers surged, and volume reached levels not seen since the August market dip. This has quickly brought the price close to the key resistance of $0.000020.

SHIB has a high probability of testing this resistance level next. However, sellers may intervene and trigger a pullback. The RSI on the daily timeframe indicates overbought conditions, suggesting caution.

Dogecoin (DOGE)

DOGE also experienced an excellent week, closing with a 16% price increase. Given its significantly higher market capitalization compared to SHIB, DOGE requires more buyers and volume to achieve similar performance.

Price action has turned bullish, and the current target is 13.5 cents. With buyers in control, DOGE has a strong chance of reaching this level before a significant pullback.

Meme coins are once again performing well, and this trend could continue as long as the overall market remains optimistic. If so, DOGE could target 20 cents in the medium term and revisit the level from March 2024.