This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.
Ethereum (ETH)
Ethereum found support this week after the price bounced off the $2,870 level and closed with a 10% gain. If this bounce is sustained, ETH could test the resistance at $3,300 in the future.
At the time of this post, the price is above $3,000, which suggests a sustained recovery, at least until the current resistance is tested.
Looking ahead, the overall sentiment remains bearish even if the price is in a relief rally right now. If buyers want to regain control of the price action, they need to break above $3,300 and turn that level into a support.
Ripple (XRP)
This week, the XRP price rallied 14% and confirmed $2 as support. This encouraged buyers who appear to be returning. However, they will face resistance at $2.4, where sellers may be waiting.
To be confident in a reversal, the price needs to make a higher high and a higher low. That starts with XRP moving above the $2.4 resistance. Until then, bears remain in the driver’s seat.
Looking ahead, this cryptocurrency has fallen 50% since its all-time high at $3.6. After such a significant price drop, a relief rally is likely, even if it won’t reverse the current downtrend. The reaction at the $2.4 resistance will likely determine where XRP goes next.
Cardano (ADA)
ADA closed this week with a modest 3% gain. This comes after the price found support at 40 cents. Hopefully, this level holds to stop sellers from pushing it lower in the future.
Considering that other altcoins like XRP or ETH managed to book double-digit gains this week, this weak performance by Cardano is concerning and may signal that buyers remain hesitant here.
Looking ahead, this cryptocurrency needs to do all it can to stay above the 40-cent support. Losing that level would only encourage sellers further, who will aim for 30 cents next. The current resistance is at $0.50.
Binance Coin (BNB)
Binance Coin is up 6% on the weekly chart but has failed to break the $900 resistance. Because of that, sellers could try to push it lower and towards the support at $800.
The downtrend momentum continues to dominate price action, and BNB may fall further before buyers return. A good area of interest is found between $800 and $690, which could serve as a pivot point to reverse this downtrend.
Looking ahead, Binance Coin needs support to prevent sellers from pushing the price lower. Once that is confirmed, buy momentum can increase to take this cryptocurrency higher again.
Hype (HYPE)
HYPE tried to break the resistance at $35, but failed. This is why the price only managed to close higher by 1% this week. Because of this weakness, the price could fall lower later.
The most important support level is found at $30. This has held well during its last test on November 22nd. However, if the resistance at $35 is not broken soon, then sellers may push HYPE back to the key support.
Looking ahead, HYPE remains in a clear downtrend with lower lows. Until this changes, sellers have the upper hand and they may put more pressure if buyers don’t show up here.
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Cryptocurrency charts by TradingView.
