Cryptocurrency Market Update for November 21: Insights on ETH, XRP, ADA, BNB, and HYPE
This article provides an analysis of the price movements and outlook for Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid as the market dynamics shift.
This Friday, a detailed look into the following cryptocurrencies:
Ethereum (ETH)
Ethereum has dropped by 15% this week, struggling to maintain its support at $3,000 and standing now at nearly $2,800. Without buyers to stabilize this level soon, it may turn into a resistance zone, with the next support level at $2,400. Given the rapid nature of this decline, a potential rebound could be equally powerful.
Ethereum Price Chart
Ripple (XRP)
This week, XRP saw a 16% drop after losing its support at $2. Currently, it rests between $1.6 and $3.6, making further declines a possibility if the lower boundary fails.
Ripple Price Chart
Cardano (ADA)
Following a disappointing year, ADA is back in bear territory after closing this week under 50 cents, posting a 21% loss. It has pivotal support at 40 cents, and the failure to hold this could lead to new lows.
Cardano Price Chart
Binance Coin (BNB)
Once valuing above $1,000 for a brief time, BNB is now below $900, with support levels emerging at $800 and $690. This reduction also saw a 10% drop during the week.
Binance Coin Price Chart
Hype (HYPE)
In spite of strong fundamentals, HYPE closes this week down by 8%. Resistance rests at $35 with support at $33 and $30.
Hype Price Chart
Buyer behavior going forward will be key in determining the recovery or further decline for these cryptocurrencies.
