This week we examine the price movements of Ethereum, Ripple, Cardano, Solana, and Hype. Analyzing the current trends can provide insights into potential future behavior of these cryptocurrencies.
Ethereum (ETH)
Ethereum closed the week with a 5% loss but managed to stay above the $2,400 support level after a volatile period. This brings it back into a range that has been ongoing since early May, despite a brief drop to $2,100.
On the daily timeframe, the MACD is about to create a bullish cross. If confirmed later, this could serve as a catalyst for higher price levels. The current resistance is at $2,800, and buyers need to break above it if they want ETH to enter a sustained rally.
Ripple (XRP)
XRP is starting to resemble a stablecoin as its price has been hovering around $2 for months. Despite closing the week with a 4% loss, buyers continue to defend the support at $2 well.
In light of this flat trend, momentum indicators are not very helpful in assessing direction. A much better indicator in such situations is the volume, which has been declining since the ATH from December 2024. Falling volume is usually bearish, but unless the key support breaks, it’s too early to call it.
Cardano (ADA)
There were high hopes for ADA in 2025 after it ended 2024 with an impressive rally taking it to $1.3. However, it has faced a long and painful downtrend that has been ongoing for six months.
This week, the cryptocurrency fell by 7%, pushing it close to 55 cents. If selling intensifies, the next key support levels will be found at $0.50 and $0.45. At this time, bears continue to dominate.
Solana (SOL)
Solana fell by 4% this week, and buyers are currently trying to reclaim the resistance at $152. Their last two attempts were swiftly rejected by sellers around $150.
On the positive side, the daily MACD shows the start of a bullish cross. If confirmed in the coming days, bulls may have another opportunity to reach $152. If they fail again, the support levels at $130 and $118 may resist any sell pressure.
Hype (HYPE)
HYPE closes the week in red with a modest 1% loss. Although this is negligible, the cryptocurrency will likely continue its downtrend if it fails to secure $37 as key support soon. This correction comes after HYPE made an ATH at $46 in early June.
The state of key cryptocurrencies demonstrates the dynamics and volatility characteristic of this sector. It is essential to monitor support and resistance levels to understand possible scenarios for further movements.
