This Friday, we examine Ethereum, Ripple, Cardano, Solana, and Hyperliquid in greater detail.
Ethereum (ETH)
With an impressive rally, ETH closes another week with double digits gains at 22%. At the time of this post, the price is above $3,600 and is aiming for the key target at $4,000 which is acting like a magnet.
The cryptocurrency has good support around $3,300 right now, but this level was not tested. The buying pressure has been too strong to allow for any significant pullbacks. It seems likely that the price will hit $4,000 before sellers make their presence known.
Looking ahead, the bullish momentum remains very strong. The first real challenge for ETH is to clear and turn $4,000 into a support. Before this happens, it’s hard to call targets beyond this critical level.
Ripple (XRP)
XRP made a new all-time high with a price just above $3.6 after a 37% rally this week. This performance is impressive and comes after a long period of consolidation around $2.
With XRP back into price discovery, buyers and sellers will fight for dominance as this cryptocurrency seeks a new equilibrium. The old resistance at $3 will likely turn into a support going forward and offer good defense in case sellers return.
Looking ahead, XRP’s price may aim to reach $4 in the coming days if buyers remains determined. To achieve this, they need to take the price above $3.6 first.
Cardano (ADA)
ADA has finally reached and tested the 90 cents resistance after an impressive rally that saw the price increase by 26% this week. With bulls on the offensive, ADA has a real shot at reclaiming a price above $1 in the coming days and weeks.
At the time of this post, sellers appear to be defending $0.90, but they are unlikely to hold on for long considering the strong bullish momentum across the market. Once this level is cleared, ADA can move higher.
Looking ahead, ADA will be able to sustain this rally and go much higher as soon as a price of $1 is secured. Until then, this cryptocurrency has good support at 80 cents should sellers return here.
Solana (SOL)
Solana arrived at the $186 resistance this week after a 12% rally. This key point will put some pressure on the price, and selling may increase here. Nevertheless, buyers have the upper hand and they could turn this level into support in the future.
If $186 is broken, then SOL has a clear path towards $200. That level has a good chance to create FOMO around Solana and see buyers rush back to it since lately the attention has been captured by XRP and ETH.
The macro price action remains bullish with clear higher lows. A higher high around $200 would encourage buyers that could push SOL to revisit its price levels from January when it nearly reached $300.
Hype (HYPE)
While most market leaders are booking double digits gains, HYPE has been rather flat lately and only booked a 3% price increase this week. This is a sign of buyer exhaustion considering this cryptocurrency already rallied hard in April and June.
Money could also be rotating out of HYPE and towards other ecosystems like Ethereum since a lot of the action has moved there lately. This may push HYPE into a consolidation period under $50. Should sellers return, good support is found at $42 and $36.
Looking ahead, HYPE has reached a key psychological level at $50 where selling has increased. This may put a stop to its rally, at least for now. A consolidation or correction here should be expected after an excellent performance in previous months.
The post Crypto Price Analysis July-18: ETH, XRP, ADA, SOL, and HYPE appeared first on CryptoPotato.
