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Analysis of the prices of ETH, XRP, ADA, SOL, and HYPE on April 25
This week, let's take a closer look at Ethereum, XRP, Cardano, Solana, and Hyperliquid with Bitcoin Magazine.
Ethereum (ETH)
Ethereum has recorded an impressive increase of 12% this week, bringing the price close to a key resistance level at $1,800. Since then, ETH has entered a slight correction; however, buying pressure remains strong, indicating the potential to break through resistance and challenge the $2,000 mark.
This is the first time since December that this cryptocurrency has shown clear signs of a reversal. However, buying volume needs to continue to reach higher levels to be confident in a new uptrend.
Looking ahead, the optimistic sentiment is returning to the market and Ethereum has a real chance to halt the downtrend. To enter a sustainable bull run, the price of ETH must rise above 2,000 USD, which would allow the largest altcoin to recover some of the losses from previous months.
XRP is somewhat weaker compared to other currencies this week, but it still maintains a 6% increase – enough to keep its price stable above the important support level of 2 USD. As long as XRP stays above this level, the overall trend remains bullish.
The problem with the current upward trend is that the volume is declining, undermining all efforts by buyers to push the price higher. However, XRP has made steady progress over the past three weeks.
Looking ahead, the price of XRP faces key resistance levels at 2.3 USD and 2.6 USD. If the bulls attempt to break through those levels and turn them into support, then this asset has a good chance of returning to the 3 USD level.
ADA has recorded an impressive price increase of 16% this week, becoming the best-performing coin on the list, allowing it to break through the resistance level of 0.64 USD, which is currently acting as support.
If this upward trend continues, then buyers of Cardano will target the level of 0.9 USD, which is the next major resistance level on the chart. However, the buying volume is still relatively low compared to before.
Looking ahead, the price of ADA has a good chance of returning to the level of 0.9 USD or even surpassing 1 USD. For this to become a reality, the prerequisite is that the bullish momentum needs to be further strengthened through a significant increase in trading volume. So far, this has not yet happened.
Solana has increased by 13% this week and has tested the key resistance level at 152 USD. Although it has not yet been able to surpass this level, buying pressure continues to rise, creating a foundation for a potential breakout if the overall market remains positive.
The current uptrend is driven by stable trading volume and no signs of weakening from buyers. This is very encouraging. If sellers cannot create additional pressure at the 152 USD level, the price of SOL could reach the 180 USD range in the near future.
Overall, SOL has maintained a steady upward trend over the past three weeks, and if this momentum continues, breaking through the current resistance is only a matter of time.
! SOL price chart 1 week | Source: TradingView## Hyperliquid (HYPE)
HYPE continues to show strength with a 10% increase this week. The price movement of HYPE is quite similar to Solana as both are facing tough resistance, in the case of HYPE being at the level of 19 USD.
After doubling from a recent low of 9 USD, HYPE may accumulate around this resistance area to build momentum before continuing to break out.
Looking ahead, if the market maintains a positive sentiment, the price of HYPE could potentially surpass the threshold of 19 USD. At that point, the next target will be the mark of 21 USD – a price that could serve as the next short-term resistance.
Emma