Ethereum (ETH)
After weeks of bearish price action, Ethereum has finally found support at the $1,800 level, where buyers have shown interest. This allowed ETH to end the week 5% higher and reach $2,000, which is currently disputed.
If the bulls manage to hold the price above $2,000 and convert this level into a major support, then the cryptocurrency has a good chance to move much higher towards $2,400, which is the next resistance on the chart.
Looking ahead, ETH could enter a relief rally that could reach $2,800. Once there, sellers were able to increase the pressure again.
Ripple (XRP)
XRP has been flat over the past week with no gains. Nevertheless, there are signs that the price wants to move higher as sellers have failed to reach lower lows.
This pause in price action can be interpreted as bullish as sellers have lost the initiative, opening the door for buyers to return and push XRP to the next key level at $1.6. This becomes likely if the current support at $1.4 holds.
Looking ahead, higher upside can be expected, but sellers could return at $1.6. Only if that level is broken can bulls hope to regain $2 or higher.
Cardano (ADA)
ADA had a good week and closed with a gain of 7%. This is the first time in months that ADA has managed to look bullish after a prolonged correction. To consolidate current gains, buyers will need to push this cryptocurrency above 30 cents, which acts as resistance.
If it falls to 30 cents, the next major target will be at 36 cents, which will likely be defended quite aggressively by sellers based on past price action.
Looking ahead, Cardano could form a bottom here, which would be in line with the past. If so, this is an attractive area for buyers, especially since this downtrend has lasted well over a year and a reversal is on its way.
Binance Coin (BNB)
Binance Coin ended the week 4% higher, finding strong support around $600. It appears that sellers ran out of strength and were unable to break lower and hold the price there. This makes a rebound likely here.
Should buyers become more active in the coming days, their first target is $690. If that level is recovered, they are looking at $900 next.
Looking ahead, BNB is looking to recoup some of the recent losses, and with most altcoins turning bullish, it wouldn’t be surprising to see this cryptocurrency also post steady gains in the coming days and weeks.
Hype (HYPE)
HYPE is flat on the weekly chart and is trying to return above $30. So far, buyers need at least one more push to be successful, but sellers may wait for that step before returning.
With momentum building behind the bulls in the market, HYPE has a good chance of breaking above $30, especially if the recent test of the $26 support is confirmed as a higher low.
Looking ahead, HYPE has a real chance to recover if $30 turns into support. Watch the price action in the coming days as it will determine where this cryptocurrency goes.
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