ETH, XRP, ADA, SOL, and HYPE

This week, we examine Ethereum, Ripple, Cardano, Solana, and Hype in greater detail.

Ethereum (ETH)

Ethereum finally woke up this week with a 12% price increase, which took it to the key resistance at $1,800. Since then, ETH entered a pullback, but buyers seem determined to eventually break the current resistance and challenge the $2,000 level.

It is the first time since December that this cryptocurrency is giving a clear sign of a possible reversal. However, buy volume needs to continue to make higher highs to be confident on a renewed rally.

Looking ahead, optimism is returning to the market and ETH has a real chance to put a stop to the downtrend. To enter a sustained rally, the price has to move above $2,000 which will allow ETH to recover some of the losses from previous months.

Ripple (XRP)

XRP was more timid this week but still managed to book a respectable 6% increase. This has consolidated the price above $2, which is key support. As long as XRP stays above this level, the bias leans bullish.

The problem with the current momentum is that the volume is decreasing. This acts like a break on any attempt from buyers to take the price higher. Nevertheless, XRP has made steady progress in the past three weeks.

Looking ahead, XRP has key resistance at $2.3 and $2.6. If bulls manage to clear those levels and turn them into support, then the asset has a good chance to revisit $3.

Cardano (ADA)

ADA booked an impressive 16% price increase this week, making it the best-performing coin on our list. This allowed it to finally clear the $0.64 resistance, which is now acting as support.

If this bullish momentum continues, then Cardano buyers will aim for $0.9, which is the next major resistance on the chart. However, the buy volume remains relatively low compared to the past.

Looking ahead, ADA has a good shot to revisit $0.9 or even get back above $1. For this to become a reality the current momentum has to intensify on increasing volume. So far, this is not yet the case.

Solana (SOL)

Solana rallied by 13% this week and managed to test the key resistance at $152. Bulls were unable to break above this level yet, but pressure is building under this resistance. If the overall market remains bullish, SOL has a good chance of moving higher later.

The current uptrend came on sustained volume, and there are no signs of weakness from buyers. This is encouraging. If sellers don’t put more pressure on the $152 resistance, they may retreat to $180 next.

Looking ahead, SOL has built a strong bullish momentum in the past three weeks. This can allow it to break above $152 and test $180 next.

HYPE had a strong performance this week with a 10% price increase. Its price action is similar to Solana and appears to face some resistance at $19, where buyers were unable to break this level.

Considering the price has more than doubled since its recent lows at $9, HYPE may consolidate under the current resistance to gather more strength before pushing higher.

Looking ahead, this cryptocurrency had a very strong performance to date and may continue to perform as long as the market sentiment remains bullish. If $19 breaks, then the next target will be found at $21.