This week, market conditions tend to be bearish, which is reflected in the price action of Ethereum, Ripple, Cardano, Pepe, and Dogecoin. Ethereum is testing the key support at $1,660, which could determine the cryptocurrency’s trend. Ripple is also testing the key support at 40 cents. For Cardano, the support at 34 cents and the reaction of this level could also determine short-term trend. Pepe is the cryptocurrency with the worst performance this week, as it has crashed by 37% and could further drop by 90%. Finally, Dogecoin is testing its key support at 7.5 cents, which is a key psychological level. All in all, it looks like the market will remain bearish for the week, with buyers likely to remain absent until major support levels are tested.
Benjamin Anderson
- 2023-05-12
Analysing Market Conditions of Ethereum, Ripple, Cardano, Pepe and Dogecoin
This week, bearish market conditions could signal further drops in ETH, XRP, ADA, PEPE, and DOGE. Ethereum is testing its key support at $1,660 and further reaction at that level could determine its trend.
![CandleFocus Ethereum-Ripple-Cardano-Pepe-Dogecoin-BearishMarket](https://images.candlefocus.com/Analysing-Market-Conditions-of-Ethereum-Ripple-Cardano-Pepe-and-Dogecoin.jpg)