The cryptocurrency market experienced a mixed week, with various coins and tokens showcasing different trends and patterns. In this analysis, we will delve into the performance of Ethereum (ETH), Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), and Polkadot (DOT), providing insights into their current market positions and future prospects.

Ethereum (ETH) experienced a 4.4% decline this week, losing its bullish momentum and falling to the key support level of $3,500. Despite this setback, the price action indicates a potential retest, which could be a normal correction following the massive breakout after the ETF confirmation. As long as buyers maintain the price above $3,500, there is no cause for concern. This is the second time ETH has been rejected by the $4,000 resistance this year, and once this correction ends, a third attempt at breaking this key level could be successful. The price continues to make higher lows on the weekly chart, which is a bullish sign.

Ripple (XRP) faced a deeper pullback after being rejected by the resistance at 54 cents, resulting in a 4% loss this week. The bias is bearish in the short term, and buying interest is unlikely to return until that key resistance is broken. Volume and momentum currently favor sellers, but buyers could return at the 43 cents key support. XRP is in a challenging situation, as it failed to make a higher high in 2024, and unless this changes, it seems unlikely to capture the market's attention.

Cardano (ADA) had a more exciting price action than XRP, briefly reaching 80 cents this year. However, since then, the cryptocurrency has entered a sustained downtrend, with a 6.5% loss this week. Sellers continue to have the upper hand, and they don't seem satisfied after taking the price under 50 cents. They appear to be aiming for 37 cents, which is the most important support on the chart right now. ADA may face difficult weeks ahead, but there is hope that the key support will put an end to this downtrend.

Dogecoin (DOGE) experienced a 7.4% loss this week, with the excitement around it vanishing in June. At the time of writing, this meme coin is trying to hold above the key support at 13.5 cents. In the past months, buyers always came back strong at the key support, but repeated tests of this level may be interpreted as bearish since it shows weakness. The bulls must do everything they can to defend the key support, as failure here could quickly see DOGE make new lows this year.

Polkadot (DOT) mirrors XRP's price action, having failed to break the key resistance at $7.6 and struggling to return to an uptrend since then. Its price also fell by 5.5% this week. The current support is at $6, which is the last level that can hold the price away from new lows this year. DOT must do everything it can to avoid a lower low in 2024, as that will turn the chart bearish on a high timeframe. Polkadot remains in a bearish trend, and unless the overall crypto market recovers, this cryptocurrency might face hard times along with most other altcoins.

In conclusion, the cryptocurrency market is experiencing a mix of trends, with some coins like Ethereum showing potential for a bullish retest, while others like Ripple and Cardano are facing challenges. Dogecoin and Polkadot are also struggling to maintain their key supports. As the market continues to evolve, it is essential for investors to stay informed and adapt their strategies accordingly.