ETH, XRP, ADA, BNB, and HYPE

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)

Ethereum has been flat this week, and the price managed to hold above $2,000, which can be considered a bullish signal. Market participants returned to ETH as soon as it dipped below $2,000.

While holding around $2,000 is a promising sign, the cryptocurrency remains in a clear range between the support at $1,800 and the resistance at $2,400. Only when Ethereum leaves this range can we get excited about a possible rally.

Looking ahead, ETH is in a long consolidation that has been ongoing for over a month now. Usually, a major move can be expected eventually once the balance of power between buyers and sellers loses its current equilibrium.

Ripple (XRP)

XRP is down by 3% this week after buyers failed to hold above $1.4. With the price in a clear downtrend, the way is now open towards the key support at $1. For that to happen, sellers will have to push the price under $1.3 and keep it there.

On the other hand, a look at the volume shows bears appear absent. The volume has been falling week-over-week, and this lack of conviction may open an opportunity for buyers to make a stand here.

Looking ahead, the bias on this price action is bearish, with new lows likely. However, sellers will need to pick up the pace if they want to hold onto the price in the future.

Cardano (ADA)

ADA is not looking good this week after falling by 5%. The price is inches away from the key support at $0.24. A breakdown there would spell disaster for this cryptocurrency that has never fallen below this level since 2021.

Expect major volatility in the days and weeks to come, as market participants battle over this key level to determine who will control this cryptocurrency. If sellers win, then ADA may fall to 20 cents. If buyers take over, then they may send it towards 28 cents next.

Looking ahead, Cardano is at a key junction, maybe the most important moment of the year. A break-it-or-make-it moment. All eyes are on the $0.24 level, as it will determine where this cryptocurrency goes next.

Binance Coin (BNB)

Binance Coin also had a rough week, falling 7%. The price crashed to the key support at $580 after a brief encounter with the $690 resistance. Sellers have taken over the price, and they don’t appear keen to let go anytime soon.

If the key support at $590 won’t hold, then buyers will most likely retreat to $500 next. That would erase more than half of its valuation since its all-time high at $1,300.

Looking ahead, BNB’s downtrend shows no signs of stopping, with lower lows likely ahead. While the battle at $590 continues, sellers maintain the upper hand and may eventually look to $500.

Hype (HYPE)

HYPE fell by 8% this week, marking a major reversal that saw the price lose support at $36. If that level cannot be reclaimed soon, then HYPE has a major problem since lower lows are likely to follow. Key areas of support after that will be found at $30 and $26.

Since the rejection at the $43 resistance level, HYPE has failed to regain the initiative and sustain its major uptrend that began in January. While pullbacks are normal, this could also transform into a major reversal, especially if the overall market remains bearish.

Looking ahead, HYPE has lost some of its sparkle recently and may struggle to return to an uptrend. That will become even more difficult if it stays under $36 and falls towards $30 next.