ETH, XRP, ADA, SOL, and HYPE

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

Ethereum (ETH)

Ethereum fell by 13% this week after the price failed to hold above $2,000. With this key psychological level lost, buyers have retreated to the support found at $1,800. This latest drop in price puts ETH at bear market levels not seen since 2023.

In December 2024, this cryptocurrency entered into a downtrend that barely had any relief rallies since. This severe correction saw the price fall by almost 60% from its most recent high at $4,100.

Looking ahead, Ethereum is in desperate search of a bottom that can stop this downtrend. It’s still uncertain if the support at $1,800 will be able to stop sellers so that it can start a recovery.

Ripple (XRP)

Surprisingly, XRP continues to hold above $2 even though its price fell by 8% this week. Somehow, buyers managed to stop any pressure from sellers at this key level, which has already been tested several times.

At the time of this post, the asset is found around $2.3 and will need to move above $2.4 if it hopes to re-test the key resistance at $3. XRP has a good shot at that if buyers pick up momentum in the coming days.

Looking ahead, XRP looks much better than most altcoins making lower lows, like Ethereum. This makes it an outlier that may be quick to move higher once market sentiment improves. That would be confirmed if the $3 resistance is broken later on.

Cardano (ADA)

ADA had a difficult week after it crashed by 18% and returned to the key support at $0.64. So far, the price seems to hold above this level, but the momentum remains bearish even if the it was briefly above $1 at the start of March.

The resistance is found at $0.9 and this level has to turn into a key support if ADA is to return on an uptrend. Considering the overall altcoin market remains bearish, it is hard to see Cardano becoming an outlier.

Looking ahead, this cryptocurrency is found in a downtrend. Until this reverses, ADA’s price is likely to make new lows with $0.5 as a key level if the current support fails.

Solana (SOL)

Solana had another bad week. Its price fell by 12% after losing support at $134. With this level turned into key resistance, buyers have retreated to $105, which is currently the most important support level.

The chart of SOL looks very similar to Ethereum. It’s making lower lows which is characteristic of a clear downtrend. It is unlikely that a reversal will happen any time soon, but the support around $100 is a good candidate for a relief rally, at least.

Looking ahead, Solana may make new lows. If so, watch closely how the price will react around $100. Either way, this cryptocurrency must not lose a three-digit price, as that would be a major psychological blow to any bullish sentiment.

Hyperliquid entered the crypto space on a very high note with an excellent release of its HYPE token, which saw its valuation skyrocket in the first few weeks after launch. However, this sentiment quickly changed at the end of 2024.

Since February, HYPE’s price has been in a downtrend. It closed the week with an 18% loss after the support at $15 turned into resistance. Buyers have now retreated to $11, which could provide some relief in the future if sellers continue to maintain pressure.

Looking ahead, HYPE is found in a difficult spot with no clear reversal in sight. If nothing changes, the price could fall under $10 in the future. Such a discount could incentivize buyers to return and reverse this downtrend.