Crypto Price Analysis August-01: ETH, XRP, ADA, SOL, and HYPE
Main Idea
The article analyzes the recent price movements and key levels for Ethereum, Ripple, Cardano, Solana, and Hyperliquid, noting their struggles to break resistance levels and potential support areas.
Key Points
1. Ethereum failed to reach $4,000, facing resistance at $3,900, with potential support levels at $3,600 and $3,400.
2. XRP dropped 4% this week, struggling to stay above $3, with strong support between $2.7 and $2.5.
3. Cardano is down 10% this week, with potential support at $0.64 if it falls below $0.70.
4. Solana was rejected at $200 and is trending downward, with $150 being a key pivot point for potential reversal.
5. Hyperliquid fell 7% this week, with critical support at $40; a break below could lead to a drop to $30.
Description
This Friday, we examine Ethereum, Ripple, Cardano, Solana, and Hyperliquid in greater detail. Ethereum (ETH) Despite a serious attempt to reach $4,000, Ethereum failed to hit this key psychological target. Sellers returned at around $3,900 and pushed the price lower, which made this cryptocurrency close this week in red with a 4% loss. This rejection at a key resistance is quite significant and may take ETH into a bigger pullback that can re-test the support levels found at $3,600 and $3,400. At...
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