This Friday, we will be taking a closer look at the performance of Ethereum, Ripple, Cardano, Solana, and Hyperliquid. Ethereum (ETH) saw a 4% increase in price last week and is currently trading above $2,500, a significant improvement from its price of $2,100 just two weeks ago. With buyers returning to the market, there is a growing sense of optimism that ETH may finally break through the resistance at $2,800. As long as the price remains above $2,500, the bulls have the upper hand and we may see even higher price levels. Momentum indicators such as the MACD and RSI are showing a clear bullish trend, with higher lows being formed. The only missing piece for a potential breakout is an increase in buy volume, which has yet to reach higher highs. Chart by TradingView Ripple (XRP) had a positive week, with a 6% increase in price and a test of the $2.3 resistance level. While the bulls were not able to break through this level, the price is still in an uptrend with higher highs and lows. If the resistance at $2.3 is broken, the next target for buyers will be $2.6. XRP has been consolidating above $2 for some time now, which could lead to a sharp increase in volatility once it breaks out of this range. With a bullish bias and potential for a surge in buy volume, a quick rally to $2.6 and beyond is possible. Chart by TradingView Cardano (ADA) After a challenging period in June, ADA seems to have found a bottom above 50 cents. Last week, the price formed a higher high and closed with a 5% increase. This is a positive sign and could lead to a reversal of the downtrend. With buyers in control, ADA may test the resistance at 64 cents, which was a key support level in the past. To turn the bias bullish, ADA will need to break above $0.64. However, this cryptocurrency has been making lower lows for over six months, so it will need a significant increase in buy volume to reverse this trend. The first step towards this would be reclaiming $0.64. Chart by TradingView Solana (SOL) SOL managed to climb back above $150, a key psychological level, and closed the week with a 6% increase. While this is a positive development, buyers will need to keep the price above this level to maintain control. The recent rally may be forming an inverted head and shoulders reversal pattern on the daily chart, but this will need to be confirmed by a move above $170 and a higher high. Additionally, an increase in volume is necessary, as it has been stagnant for months. The momentum indicators are currently bullish, but without higher volume, it may be difficult for buyers to push SOL higher. As long as $150 holds, the bulls are still in a good position. Chart by TradingView Hyperliquid (HYPE) HYPE had a 5% increase last week, but the price action is not meeting SEO standards.
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