In this week’s analysis, Ethereum sees a 12% increase but faces resistance at $1,800. Ripple shows steady 6% growth above $2, while Cardano shines with a 16% rise, clearing $0.64. Solana gains 13% testing $152 resistance, and HYPE records 10%, facing challenges at $19.
This week’s crypto price analysis takes a closer look at Ethereum, Ripple, Cardano, Solana, and HYPE. Each of these cryptocurrencies has made interesting moves recently, and the trends could signal further developments and market dynamics.
Starting off with Ethereum (ETH), the cryptocurrency saw a significant 12% price increase this week, reaching a key resistance level at $1,800. After hitting that mark, ETH experienced a pullback, yet there’s a strong determination among buyers to push past this resistance and eventually target the $2,000 milestone. This is noteworthy, as it’s the first clear sign of a potential reversal since December. But to sustain this momentum, buy volume must maintain upward trends, which is essential for a continued rally.
Now, let’s discuss Ripple (XRP). It wasn’t as explosive, but it still managed to notch up a 6% gain, solidifying itself above the $2 mark, which serves as a critical support level. As long as XRP remains above this, the outlook appears bullish. The concern, however, lies with decreasing trading volume, which might hinder any attempts at further price escalations. Key resistances to watch include $2.3 and $2.6, and if buyers can convert these into support, XRP could aim for the $3 mark once again.
Turning to Cardano (ADA), it registered an impressive gain of 16%, making it the standout performer this week. Clearing above the $0.64 resistance, now acting as support, gives ADA bulls a fighting chance. Eyes are on the next major hurdle at $0.90. Still, the relatively low buy volume compared to earlier trends raises some caution. For ADA to make a significant move upwards—potentially back over $1—volume needs to pick up.
Solana (SOL) didn’t lag behind with a 13% rise this week, managing to test a pivotal resistance point at $152. Though it hasn’t yet breached this level, the pressure beneath the resistance is building. With no apparent signs of weakness from buyers and sustained trading volume, SOL could move towards $180 if the bullish market sentiment prevails. So there’s definitely potential for more growth.
Lastly, we have HYPE showing robust performance—a 10% price increase with resistance around the $19 mark. HYPE has more than doubled since touching lows of $9 recently. A consolidation phase seems likely as it needs to gather strength before breaking through the resistance. If the bullish market sentiment continues, and the $19 barrier falls, $21 will be the next target.
