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

Ethereum (ETH)

Ethereum managed to bounce off support at $1,500 and recovered last week’s losses. This is also why it closed the week with an impressive 10% rally, as buyers regained control of price action.

To be confident in a sustained recovery, the price will need to eventually break the current resistance at $1,800. Anything less than that would only be a short relief before sellers return to dominate.

Looking ahead, Ethereum has a real chance here to set a local bottom and attempt a rally. The question is if buyers have the volume and strength to sustain it and break the key resistance in the days and weeks to come.

Ripple (XRP)

This week, buyers managed to defend $1, sending the price 6% higher. However, there is resistance at $1.1, which has managed to hold off the bulls, at least as of this post.

Similarly to Ethereum, XRP needs to make the best of this bounce and turn it into a sustained rally if it wants to break away from its current downtrend. Even if the $1.1 resistance falls, the price still has to claim $1.3 to confirm a breakout.

Looking ahead, the price reaction at $1 was somewhat expected since it’s a key psychological level. If buyers fail to capitalize on this in the coming days and weeks, then sellers will likely return to put pressure again.

Cardano (ADA)

This week, ADA impressed with a 16% bounce after the price briefly fell under the $0.15 support. With the support secured, this cryptocurrency has a good shot at moving higher. However, as of this post, the price formed a lower high.

To be confident in a sustained recovery, Cardano will have to move beyond its previous high of 19 cents. Anything less than that would make this a bearish bounce, eventually leading to ADA falling lower.

Looking ahead, sentiment across the crypto market has improved with the start of July, but the month is only just beginning, and it is too early to say whether the current price action will be sustained. At a macro level, ADA remains bearish.

Binance Coin (BNB)

Compared to the other coins on our list, Binance Coin remained flat this week. This is atypical and rather bearish because the price failed to reclaim its support at $580. Because of that, sellers retain the upper hand and may aim for $500 next.

The $500 support hasn’t been tested yet, but it’s the next major level if bears continue to dominate the chart. Moreover, Binance failed to secure a MICA license in the EU at the start of July, which made it lose a key market to competitors.

Looking ahead, any weakness for Binance, the exchange, will likely translate to its token, BNB. The current chart seems to confirm this, as it remains in a bearish trend with no bounce or recovery in sight.

Hype (HYPE)

HYPE found good support above $60 and bounced by 6% this week. This has placed it in flat price action since early June. This consolidation is also forming a large pennant. Once that is resolved, we will know where this cryptocurrency is headed next.

When a pennant forms, the price tends to respect the underlying trend, which, in this case, is bullish. Therefore, the higher probability is for the price to break away and aim for new highs.

Looking ahead, HYPE will have to secure $68 as a key support and hold above it if it wants to challenge the current all-time high at $77. Anything less than that, or a break below $60, would be a bearish signal with lower lows likely.

Источник: CryptoPotato