Our focus today is on the latest price action for Ethereum (ETH), Ripple (XRP), Cardano (ADA), Solana (SOL), and Hyperliquid (HYPE).
First off, Ethereum (ETH) ended the week with an impressive rally, boasting double-digit gains of 22%. As of the time of writing, the digital currency has breached the $3,600 mark, with a clear eye on the $4,000 landmark. The current buying pressure has been too strong for any significant pullback, and it’s likely that the $4,000 target will be hit before sellers start to push back. Looking ahead, a real test for ETH will be its ability to surpass and consolidate the $4,000 mark as a support level.
Next, Ripple (XRP) managed to hit a new all-time high just above $3.6, following a 37% rally last week. This remarkable performance comes after a lengthy consolidation period around the $2 mark. With XRP just shy of entering price discovery, the battle between buyers and sellers will intensify as the cryptocurrency seeks a new price balance. The previous resistance level at $3 is likely to become a support level moving forward. In the coming days, if buyers maintain their momentum, the price of XRP may strive to reach the $4 mark.
Cardano (ADA) finally tested the $0.90 resistance after an impressive 26% rally this week. With the bulls leading the charge, it’s possible that ADA will reclaim the $1 price level in the near term. While sellers are currently resisting at $0.90, their efforts are likely to be short-lived given the strong bullish momentum in the market. Once ADA clears this resistance level, further upward movement is expected. ADA’s rally could continue to higher levels once it secures $1 as a support level.
Solana (SOL) reached the $186 resistance level this week after a 12% rally. While this key level may induce some selling pressure, buyers are poised to flip this resistance into support. If SOL breaks past $186, it’s got a clear run towards $200 – a level that could trigger a Fear Of Missing Out (FOMO) effect among investors and bring more attention back to Solana.
Lastly, HYPE has experienced a weekly decline of 9% while other market leaders are achieving double-digit gains. This drop could signal a shift of investor interest from HYPE to other ecosystems like Ethereum. This could push HYPE into a consolidation phase below $50. However, should sellers continue to exert pressure, HYPE can rely on strong support levels at $42 and $36.
