ETH, XRP, ADA, SOL, and HYPE

Ethereum (ETH)

This week, Ethereum experienced a significant downturn, falling by 13% after failing to maintain its position above the crucial $2,000 mark. With this psychological threshold breached, buyers have shifted their focus to the support level at $1,800, a situation that marks a return to bear market conditions not witnessed since 2023. Since December 2024, Ethereum has been in a relentless downtrend, with minimal opportunities for relief as prices plummeted nearly 60% from its peak at $4,100. The ongoing challenge for Ethereum is to find a solid bottom that can halt the current downtrend, with uncertainty surrounding whether the support at $1,800 will be sufficient to absorb selling pressure and initiate a recovery.

Ripple (XRP)

In an unexpected turn of events, Ripple (XRP) has managed to maintain its value above the $2 mark, despite registering an 8% decline this week. Remarkably, buyers have successfully fended off selling pressures at this critical level, which has been tested multiple times. As of the latest updates, XRP is priced around $2.3 and needs to breach the $2.4 mark to pose a serious challenge to the resistance at $3. Compared to many altcoins, especially Ethereum, XRP appears more resilient, positioning it as a potential outlier that may swiftly rise if market sentiment shifts positively. A breakout above the $3 resistance could confirm a bullish outlook for XRP.

Cardano (ADA)

Cardano (ADA) faced a turbulent week, plummeting by 18% and returning to the crucial support level at $0.64. Currently, the price seems to remain above this level; however, the general momentum is bearish, particularly after briefly surpassing $1 at the beginning of March. For ADA to regain an upward trajectory, the resistance at $0.9 must transform into robust support. Nonetheless, the prevailing bearish atmosphere in the altcoin market makes it challenging for Cardano to emerge as an exception. Without a turnaround in its trend, ADA is likely to encounter new lows, with $0.5 identified as a critical threshold if the current support fails to hold.

Solana (SOL)

Solana also faced setbacks this week, experiencing a 12% drop after losing the support level at $134. As this level has now turned into resistance, buyers are currently focusing on $105, the most critical support level at this time. The trend illustrated in Solana’s chart appears strikingly similar to that of Ethereum, as it also exhibits lower lows indicative of a downtrend. A significant reversal in the near future seems improbable; however, the support level around $100 could present a potential opportunity for a relief rally. Observers should pay close attention to the price’s behavior at this level, as falling below a three-digit price would severely dampen any bullish sentiment.

Hyperliquid (HYPE)

Hyperliquid made an impressive entry into the cryptocurrency space with the successful release of its HYPE token, witnessing a rapid rise in valuation shortly after launch. However, this initial enthusiasm waned significantly towards the end of 2024. Since February, HYPE’s price has been on a downturn, closing the week down 18% as the support level at $15 turned into resistance. Buyers have retreated to $11, which could offer some respite if sellers maintain their pressure. The outlook for HYPE remains precarious, with no evident reversal on the horizon. Continued declines could see the price dip below $10, potentially encouraging new buyers to step in and turn the tide.