Major Cryptocurrencies Suffer Significant Price Drops Amid Bearish Market

As the crypto market continues to navigate its current downturn, five major cryptocurrencies - Ethereum (ETH), Ripple (XRP), Cardano (ADA), Binance Coin (BNB), and Hyperliquid (HYPE) - have been making headlines for all the wrong reasons. Analysts are sounding the alarm as these coins experience significant price drops.

Ethereum has fallen 4% this week, with sellers holding strong at the $2,400 resistance level. The price is hovering just above the key psychological level of $2,000, and a breach below this could lead to further declines, potentially down to $1,800. However, if buyers fail to step in and support the price, this could be the start of lower lows for Ethereum.

Ripple has also suffered a 6% loss this week, with the price falling from $1.6 resistance to $1.4 support and beyond. Buyers may attempt to intervene at $1.3, but analysts are predicting that bears will continue to drive the market downward, potentially retesting the $1 support level.

Cardano has been particularly affected by the current bearish momentum, with its price falling 6% this week. The key support level of $0.24 is under threat, and if breached, ADA could plummet to new lows not seen since 2021.

Binance Coin has dropped 3% this week, with sellers pushing back against the $690 resistance level. Analysts are warning that a retest of the $590 support level would be bearish, potentially leading to further declines down to $500.

Hyperliquid is one of the few coins bucking the trend, despite closing the week in red with a 2% loss. The price remains well above the key support at $36 and is targeting the resistance level at $43. However, analysts caution that this bullish momentum may not last if market leaders continue to underperform.