ETH, XRP, ADA, BNB, and HYPE

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

Ethereum (ETH)

Ethereum managed to make a new record price this week at $4,960 and closed with a 5% gain. While this is encouraging, buyers will have to break the $5,000 resistance and secure it as a key support to sustain the ongoing rally.

At the time of this post, the price is found in a pullback and around $4,500 as bulls and bears battle for dominance. Even if ETH falls to the support at $4,000, buyers still maintain a clear advantage with higher highs.

Looking ahead, Ethereum may be consolidating under $5,000 before it gathers enough strength to break this key level. It’s important for buyers to continue to defend the price and keep it above $4,000 if they want to retain control.

Ripple (XRP)

The price of XRP has failed to break away from its ongoing downtrend, but managed to close the week with a modest 2% gain. On the positive side, every time sellers pushed the asset lower, buyers came back around $2.8 to drive it back up.

The current price action has formed a descending triangle with a base around $2.8. Should sellers break this key level, then XRP will fall lower in search of new support. The strongest candidate for that is $2.5.

Looking ahead, until XRP can make higher highs, it is unlikely this downtrend will reverse. Watch closely how the price reacts at $2.8 since a re-test of that support appears likely at the time of this post.

Cardano (ADA)

In the past four days, the price of ADA has been flat, moving sideways around $0.85. Due to this low volatility period, the asset is in a similar position to last week.

With momentum stalling, the volume is also in decline. This is not a bullish indicator. Instead, it shows weakness, which could translate into a lower price later on. The most important support on the chart right now is found at $0.77.

Looking ahead, if volume does not pick up, Cardano could test the key support at $0.77 before buyers show interest again. This makes the chart short-term bearish.

Binance Coin (BNB)

BNB continues to show strength after making an all-time high last week at $900. Since then, the price corrected somewhat, but still managed to close this week with a 2% gain.

Right now, it appears that Binance Coin is consolidating the recent advances by moving in a range between $900 and $830. These key levels are acting as resistance and support, respectively.

Looking ahead, this cryptocurrency is one of the strongest performers this year after it managed to break into new price records. It’s highly likely that BNB will continue to show strength and eventually test the key psychological target at $1,000.

Hype (HYPE)

HYPE has tried three times to break and secure a price above $50, but each attempt was rejected. The most recent happened this past week. After the excitement that the price managed to move above $50, sellers returned in force to push the price back to $45.

Despite this pullback, HYPE still closed the week with a 9% gain and may need some time to consolidate before it makes a new attempt at a breakout beyond $50. As long as the price stays in this ascending triangle (as seen on the chart), the bias remains bullish.

Looking ahead, this cryptocurrency has strong support around $45, and if it holds, buyers have an advantage. Should this support fall, then sellers could take HYPE into a longer correction towards $40 and lower.