This article examines cryptocurrency market trends at the beginning of April 2025, focusing on Ethereum, Ripple, Cardano, Solana, and Shiba Inu.
Overview of Ethereum
Ethereum and most of the market closed March in the red, and April started with increased instability, leading to a price crash. ETH dropped by 8%, setting a new low against Bitcoin. The current market situation is bearish, with the price falling below $1,800, which was a key support level that has now turned into resistance. Ethereum is expected to continue its decline as it closed the last four monthly candles in red, indicating a bear market.
Current Situation with Ripple
XRP finished the week with a 10% loss, unable to face the selling pressure from the overall market. Nevertheless, buyers managed to keep the price above the $2 support level, which is under pressure from bearish trends. A drop below this level may quickly lead to prices around $1.6. This support will become a decisive factor for XRP's price action in the coming weeks.
Analysis of Cardano, Solana, and Shiba Inu
Cardano (ADA) is also facing difficulties, dropping 11% this week, with support at $0.64 holding but appearing fragile. Solana (SOL) closed two consecutive monthly candles in red, dropping 14% and losing support at $118, which has turned into new resistance. Shiba Inu (SHIB) fell by 11%, approaching support at $0.000010, which previously served as a key level for recovery. Overall, the price trend remains bearish.
Overall, the cryptocurrency market exhibits bearish trends with a consistent decline in prices across most cryptocurrencies, including Ethereum, Ripple, Cardano, Solana, and Shiba Inu. Investors should closely monitor support levels and the general market conditions.
