This Friday, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid.

Ethereum (ETH)

Ethereum showed little movement this week, with a modest increase of 1%. This indicates that buyers have been able to maintain key support at $1,800. The selling pressure appears to be easing, hinting at a potential reversal in the near future.

The primary resistance levels are situated at $2,000 and $2,400. With the price having closed lower for the past month, a recovery rally seems feasible, possibly challenging these important levels soon.

Looking forward, Ethereum could be completing its second downward segment in an ABC correction pattern. If this is the case, we could expect significant buying activity once it recaptures the $2,000 level.

Ethereum Price Chart Source: TradingView

Ripple (XRP)

XRP managed to conclude the week with a 5% increase; however, this was insufficient to turn the trend bullish as the effort to breach the resistance at $1.6 faced stiff opposition from sellers.

This rejection is a bearish indication, suggesting that the downtrend may persist. A retest of the support levels at $1.4 and even $1 might be on the horizon if this trend continues.

In the coming period, the ongoing selling momentum could lead to further declines; thus, it’s crucial to monitor price reactions at $1.4 for future direction.

Ripple Price Chart Source: TradingView

Cardano (ADA)

ADA is currently hovering near the support level of $0.28 but shows signs of weakness and may fall below this threshold again. If this happens, it could open the door for lower prices ahead, with a crucial support target at $0.24. This decline follows a 6% weekly increase.

The price action of Cardano resembles XRP’s recent behavior as both face a battle between buyers and sellers at significant support. Hence, a definitive move could be anticipated soon.

Moving forward, Cardano’s performance this year has been far from stellar, and a shift in momentum may only occur once it surpasses the $0.50 mark.

Cardano Price Chart Source: TradingView

Binance Coin (BNB)

This week, Binance Coin kept close to the support level at $580, finishing with a 3% gain. Although sellers appear to have slowed down, it does not imply the end of the sell-off.

The current resistance lies at $690, which has yet to be approached. This reluctance from buyers suggests caution, although recent decreases in sell volume may signal a positive shift in sentiment.

In the near term, should BNB manage to hold its ground, buyers may feel encouraged to challenge the $690 resistance. Conversely, a strong return of selling pressure could result in a drop to $500.

Binance Coin Price Chart Source: TradingView

Hype (HYPE)

HYPE ended the week down by 5%, facing resistance at both the $36 and $30 thresholds. Current market conditions have put buyers on the back foot, potentially leading to further declines toward the key support level at $26.

If $26 is lost, it could signal significant bearish momentum, possibly resulting in new lows for HYPE this year. Alternatively, should this support hold, it would create a higher low, providing an opportunity for renewed buyer interest.

In the upcoming period, this cryptocurrency is likely experiencing a pullback phase. Patience may be warranted as market players determine their next moves around $26.

Hype Price Chart Source: TradingView