ETH, XRP, ADA, BNB, and HYPE

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)

Ethereum closed the week with a 3% loss after buyers were unable to keep the price above $4,500. This level also acts as a key resistance.

Since sellers have the upper hand, they may be able to take ETH to the key support at $4,000 before buyers decide to return and stop this correction. In the past, the $4,000 level defended the price well.

Looking ahead, Ethereum needs to complete its correction before it can hope for new highs. That starts by reversing this price action and reclaiming $4,500 as support. After that, bulls can hope for $5,000 and higher highs.

Ripple (XRP)

XRP closed the week with a 7% loss and was overtaken by Binance Coin, which continued to make new price records. This is the first time in years since XRP lost its third position behind Ethereum.

With momentum lagging, the asset continues to hover under the $3 resistance, unable to break above it. The longer this continues, the bigger the pressure on the support at $2.7.

Looking ahead, XRP may fall lower in the short to medium term until it finds buyers. This is likely to happen around the $2.7 – $2.5 range. Until then, the bias is somewhat bearish on this price action.

Cardano (ADA)

Cardano fell by 4% this week, but managed to hold well above the key support at $0.77. As long as this level holds, buyers have a chance to take it higher later.

The current resistance levels are found at $0.90 and $1. Unfortunately for the bulls, these levels rejected the price in the past as soon as they were tested. Therefore, a future breakout attempt has to be on sustained buy volume, or sellers may reject it again.

Looking ahead, the ongoing consolidation above the key support may continue until buyers gather enough strength to attempt a new breakout. This could start later in October if the overall market allows it.

Binance Coin (BNB)

Binance Coin made a new record price this week at $1,350. This is both impressive and intimidating, considering that most altcoins have struggled to make higher highs this year.

This performance has allowed BNB to close the week with a 15% price increase and also flip XRP from its third position by market capitalization. With renewed interest, liquidity has flown to the BNB ecosystem, which has flourished lately.

Looking ahead, the most important target on the chart is found at $1,500. This becomes likely as soon as the bulls break the current resistance at $1,350, which is also the ATH. Should sellers return, BNB has good support at $1,200.

Hype (HYPE)

Hyperliquid had a disappointing week after closing with a 9% loss. This comes after renewed fears about its upcoming token unlocks. Moreover, competition from other decentralized exchanges such as Lighter and Aster has intensified.

With bears in control, the price fell to $44, which is currently being tested. Should it turn into a resistance, then the asset will likely fall towards $40 next. If so, the macro uptrend may be in danger and indicate a larger correction is at hand.

Looking ahead, HYPE is facing a challenging end of the year after a bullish summer that saw new price records. If buyers cannot take HYPE above $50 soon, then sellers will most likely push for lower lows.