Crypto Price Analysis August-01: ETH, XRP, Ada, Sol and Hype

This Friday we will investigate Ethereum, Ripple, Cardano, Solana and Hyperliquid in more detail.

Ethereum (ETH)

Despite a serious attempt to reach $ 4,000, Ethereum did not succeed in getting this important psychological target. Sellers returned to around $ 3,900 and pushed the price lower, so that this cryptocurrency was closed in red this week with a loss of 4%.

This rejection with a key resistance is quite important and can bring ETH into a larger withdrawal that the support levels can re -test at $ 3,600 and $ 3,400. At the time of this message, buyers try to stop the correction, but they do not seem successful.

Looking ahead, Ethereum must find a good level of support to catch your breath before trying a new attempt on the $ 4,000 resistance. A second attempt can be successful if the Bullish Momentum builds up in the future.

Ripple (XRP)

XRP also fell by 4% this week after it had fallen below $ 3 for a short moment. At the time of this message, buyers defend this key level, but they appear under pressure from increasing the sales volume. If they cannot keep the price above $ 3, sellers have a good chance of taking it to $ 2.7.

This correction comes after XRP cannot break the resistance to $ 3.6. Since then, the price has been introduced a falling trend and it is unable to stop the pressure of bears. As long as the actively makes lower lows, this correction will continue.

Looking ahead, XRP has strong support between $ 2.7 and $ 2.5; If sellers would definitely push it under $ 3. That range is a key area that can stop the existing downward trend and reverse the price action.

Cardano (there)

Ada is completely reversed after he has not maintained resistance at $ 0.90. For this reason it has fallen by 10% this week. The active is looking for support and the most important candidate for that can be found at $ 0.64.

With sellers who are responsible for the price action, Cardano can also try to stop the correction by around 70 cents. Every weakness there will soon see the price fall to $ 0.64, with buyers having a big chance to return.

Looking ahead, Ada is found in a difficult place, because the constant correction is in danger of eradicating the most profit that it achieved in the first part of July. Hopefully buyers will return soon to stop the downward trend and try a reversal.

Solana (SOL)

Since Solana was rejected at $ 200, the prize has fallen with lower highlights and lows. It also closes for a week in red with a loss of 6%. If nothing changes into the downward trend, SOL is well on its way to the most important support for $ 164 or even $ 150.

Historically, buyers became quite active as soon as the price was approaching $ 150, making this level an important pivot point for the future. If it applies, SOL gets a good chance of a reversal.

Based on the current price promotion, it will probably be active downward trend in the short term before a large bouncing. View the level of $ 150 accurately for early signs.

Hype (hype)

Hype also disappointed this week to have fallen by 7%. This price action places it in a clear Downtrend channel that can be seen on the graph. The most worrying aspect, however, is that Hype will soon be able to lose its support at $ 40.

If the most important psychological level falls to $ 40, the hype will probably fall to $ 37 if the graph beish is in the short to medium term. This opens the road for sellers to be more present at the graph compared to the past two months.

Looking ahead, this correction seems more serious than initially forward and can keep hype between $ 40 and $ 30 until it finds a good support basis to recover. Bullish bounces will probably happen, but without higher highlights it is difficult to expect a large reversal of this downward trend soon.