ETH, XRP, ADA, BNB, and HYPE

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)

Ethereum is down 4% this week as the market remains bearish. The price continues to hold above the $3,000 support, but buyers appear absent, which may extend the downtrend.

With sellers in control since the start of November, momentum indicators such as the MACD and RSI are starting to look oversold on lower timeframes, including the 4-hour. A bullish divergence is also appearing, which gives hope for a relief rally soon.

Looking ahead, Ethereum may bounce to recover some of the recent losses, but the resistance at $3,800 could stop any attempts at a significant reversal.

Ripple (XRP)

Surprisingly, XRP is up 3% compared to the same period last week. Despite this brief bounce, the momentum remains bearish, and the price is struggling to stay above the $ 2.30 support. The current performance is largely tied to the launch of the first spot XRP ETF this week.

One positive aspect is that the sell volume has been declining since October, which could signal that bears are becoming exhausted. That could allow buyers to return. The key resistance is found at $2.43.

Looking ahead, XRP remains in a challenging position, but there is a real chance that buyers can reverse this trend if the support at $ 2.30 is defended effectively.

Cardano (ADA)

ADA remains close to 50 cents despite several attempts to move higher. The bias is bearish, and the price closed the week with a 3% loss. There is simply no force to push the price higher at this time.

While the momentum indicators show some exhaustion on the sellers’ side, this downtrend can continue for some time until buyers return. Key support levels are found at 50 and 45 cents.

Looking ahead, ADA needs to break away from this downtrend. That starts by moving above 60 cents. However, this seems like a challenging task now.

Binance Coin (BNB)

Binance Coin lost its sparkle in the past few weeks as its price continues to make lower lows. The price is down 5% this week and has also lost the support at $1,000, which has now become resistance. This is bearish.

The next significant support is found at $900. Should that fail as well, buyers could then retreat to the $800 level. With momentum favouring bears right now, it is unlikely for any recovery to happen any time soon.

Looking ahead, best to let BNB correct and find a key support that can hold before considering any exposure.

Hyperliquid (HYPE)

If we zoom out, HYPE has been making lower highs since September. This puts the price action in a bearish trend with strong support around $36. However, repeated tests of this level could lead to a breakdown with lower lows.

At the time of this post, the momentum is bearish and the price closed the week with a 4% loss. The optimism and hype that once characterised this cryptocurrency seems to have vanished. But this could also present an opportunity to accumulate at a discount.

Looking ahead, HYPE needs to hold above $36 to stop the downtrend. Any failure there will see sellers encouraged to continue their pressure.