ETH, XRP, ADA, BNB, and HYPE

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

Ethereum (ETH)

The market is starting to turn bullish, and Ethereum is no different, closing the week 7% higher after moving above $2,000. If this momentum continues, the resistance at $2,400 is the next target for bulls.

To really kickstart a relief rally, buyers will have to turn $2,400 into support. That would confirm a higher high and open the way for ETH to rally all the way to $2,800 next. This is the bullish scenario. The bearish scenario is another sharp rejection at the key resistance.

Looking ahead, Ethereum looks primed to move higher. The only question is if sellers will return at $2,400 or allow the price to move beyond that level.

Ripple (XRP)

XRP is about to close its most recent weekly candle in green after a month where sellers dominated. The price is also up 2%, but it may go much higher as soon as buyers break the $1.4 resistance, which has been holding the price down.

With good support secured in the $1.3 area, XRP is looking upwards, and there is a good chance it will eventually break through the resistance. If so, the next key target will be found at $1.6.

Looking ahead, another bullish signal can be seen on the momentum indicators such as the MACD or RSI. Both these indicators are curving up on the weekly timeframe with a bullish cross appearing imminent.

Cardano (ADA)

After months of bearish price action, ADA found strong support at $0.24, which has held well. As long as this continues, a test of the key resistance at $0.28 appears likely, which could allow buyers to finally take over.

The most important objective for this cryptocurrency is to not fall below $0.24, as that would be devastating for its market structure, which has not seen a price below that level since 2021.

Looking ahead, Cardano has a real chance to run if it breaks above $0.28, with key targets at $0.30 and $0.36 next. While this is still some distance away, the weekly MACD also gives a bullish bias.

Binance Coin (BNB)

BNB also managed a modest 3% gain this week and appears to be holding well on support at $580. That level has been tested several times already and has defended the price despite the bearish pressure.

The expectation here would be for BNB to gain momentum and attempt a rally towards the key resistance at $690. It did exactly this in mid-March, but back then, sellers rejected the price from breaking that level.

Looking ahead, Binance Coin may have a second chance at a breakout in the weeks to come. This is largely dependent on the overall market that is currently giving signs it wants to rally.

Hype (HYPE)

HYPE remains the undisputed leader in the altcoin space after closing this week with a 14% gain. This is an impressive performance that allowed the price to move beyond $40 at the time of this post.

This rally appears determined to go all the way to the key $43 resistance. This level rejected HYPE in mid-March, but a second attempt could be successful as buying pressure builds.

Looking ahead, this cryptocurrency is likely to continue its current rally, but watch the price reaction at $43 closely. If sellers return, the rally could quickly reverse into a major pullback towards $36.