This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in detail.
Ethereum (ETH)
Ethereum had a very low week, closing only 1%. This means that buyers were able to secure key support at $1,800. Sales momentum is also slowing down, which could indicate a potential reversal in the near future.
Current resistance levels are found at $2,000 and $2,400. Given the price’s close in the red over the past four weeks, a rally seems possible and could test these key levels.
Looking ahead, Ethereum may complete its second leg down in the ABC correction. If so, bulls may make their presence known in the order book. That starts once the $2,000 level is returned.
Ripple (XRP)
XRP closes the week up 5%. However, this is not enough to turn the chart into a high level. This is because the attempt to break the $1.6 resistance was largely rejected by traders.
Such a rejection is a bearish signal that the downtrend may continue for some time. If so, a retest of support at $1.4 and even $1 is possible in the future.
Looking ahead, selling pressure continues to dominate, which could lead to lower prices. Watch closely how the price reacts to $1.4 to get a good indication of where XRP will go next.
Cardano (ADA)
ADA is leaning towards support at $0.28, but it seems to be struggling and may lose this level again. If so, expect lower prices going forward, with key support at $0.24. This comes after a 6% gain to close the week.
Cardano’s price action is similar to that of XRP. Momentum remains bearish, but sellers and buyers are still fighting for dominance at key support. Either way, a decisive move can be expected soon.
Looking ahead, ADA has had a very disappointing year so far and this will not change until it re-claims the price above 50 cents. That’s when the bulls can hope to make a sustained profit.
Binance Coin (BNB)
Binance Coin held the support level of $580 last week and closed with a 3% gain. Sellers also seem to be taking a break, but that doesn’t mean the selloff is over.
Current resistance is at $690 and has not been tested so far. This shows that buyers are still reluctant to return here, but the signs are promising as the sales volume has dropped significantly recently.
Looking ahead, if BNB can hold here, then buyers may muster enough courage to push higher and challenge the $690 resistance. If, however, the sellers come back strongly, the price could fall to $500 next.
HYPE (HYPE)
HYPE closed the week in the red with a 5% loss. This comes after a sharp rejection at the $36 and $30 resistance levels. Buyers are on the defensive, which could see the price drop to key support at $26.
If $26 is lost over time again, that would be an extremely bearish signal, which could see HYPE make new lows this year. On the other hand, if that level holds, then it can be interpreted as high, which will encourage consumers to come back again.
Looking ahead, this cryptocurrency is in a pullback that may last for a while. Best to be patient here and wait for the bulls and bears to show their intent around $26 first.
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