Crypto Price Analysis August-08: ETH, XRP, ADA, SOL, and HYPE
Main Idea
The article analyzes the recent price movements and future prospects of Ethereum, Ripple, Cardano, Solana, and Hyperliquid, highlighting key resistance levels and potential bullish trends.
Key Points
1. Ethereum is nearing the $4,000 resistance level with a 6% weekly increase, and buy volume suggests a potential breakout, though volatility is expected.
2. XRP surged over 12% in a week, moving above the $3 support level, with a bullish MACD crossover potentially leading to a test of its all-time high at $3.6.
3. Cardano (ADA) is approaching $0.80, with potential to reach $0.90 if the uptrend continues, though sellers may emerge at that resistance level.
4. Solana (SOL) lagged with only a 3% weekly increase but remains in a macro uptrend; buyers aim to sustain prices above $200 for further gains.
5. Hyperliquid (HYPE) showed a reversal from a dip, with buyers pushing it to $40; maintaining this level could signal progress toward its all-time high of $50.
Description
This Friday, we examine Ethereum, Ripple, Cardano, Solana, and Hyperliquid in greater detail. Ethereum (ETH) Ethereum is fast approaching the key psychological level at $4,000. This comes after a good week where the price increased by 6%. This is the first time since 2024 when ETH is about to test this resistance. It would be surprising to see Ethereum break $4,000 and move higher without any sellers making there presence known. Therefore, expect a lot of volatility as the price inches closer to...
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