This Friday, we take a closer look at several cryptocurrencies: Ethereum, Ripple, Cardano, Binance Coin, and HYPE.

Ethereum (ETH)

Ethereum concludes the week experiencing a 2% decline, struggling to stay above $4,000. If sellers persist with their selling pressure, the asset may tumble to significant support at $3,345. Currently, ETH trades around $3,800.

The price movement is in a descending trend, but historically, buyers have responded strongly whenever Ethereum dipped below $4,000. As the weekly candle is yet to close, there is still a chance for bulls to make a comeback over the weekend.

Ethereum needs to halt this downward correction quickly to have any hopes of achieving new peaks by year-end. There is hope that November will bring a turnaround and a renewed upward trend.

Ethereum Price Action

Ripple (XRP)

XRP attempted to breach the $2.7 resistance this week but fell short and declined. However, strong buyer interest at the $2.4 support level allowed it to finish the week 2% higher.

Since the October 10 crash, selling volume has dominated, with brief relief rallies failing to hold. Nevertheless, bulls have managed to establish higher lows, signaling that sellers may be losing steam.

The daily MACD remains positive despite recent pullbacks. If buyers can sustain their momentum, XRP might have another opportunity to surpass the $2.7 resistance.

Ripple Price Action

Cardano (ADA)

Unfortunately for ADA, its price has recently dipped to a lower level, causing a 5% decline for the week. Buyers are currently striving to keep this cryptocurrency above the $0.60 support.

If this support fails, buyers may retreat to $0.54, where the next major support level exists. The current resistance is at $0.64, where sellers were quick to halt a breakout attempt earlier in the week.

Prospects remain bearish for ADA, with buyers hesitant at these price points. This downtrend may persist until more market participants show interest.

Cardano Price Action

Binance Coin (BNB)

Binance Coin has slipped 4% this week but remains entrenched within a range of $1,000 to $1,200. While it stays within this range, volatility will lessen as both buyers and sellers weigh their next moves.

A decisive breakout beyond $1,200 is essential for bulls to push BNB higher. Conversely, a drop below $1,000 could signal bearish tendencies and lead the asset back towards $950 and $900.

The overall market remains erratic, and risk-taking has been stifled throughout October, suggesting that Binance Coin may need additional time before breaking its current range.

Binance Coin Price Action

Hype (HYPE)

HYPE experienced a robust rally that propelled its price up by 15% amidst general market declines this week. However, selling pressure emerged at the $50 mark, which curtailed the rally and caused a pullback.

This cryptocurrency boasts solid support levels at $43 and $39 if selling accelerates in the future. Currently, HYPE trades around $45.

Future momentum for HYPE appears optimistic, but it must break above $50 to sustain its upward movement. A prior attempt at a breakout was denied, yet buyers may make another push soon, contingent on overall market conditions.

Hype Price Action