Cryptocurrency Market Analysis: Ethereum, Ripple, Cardano, Binance Coin, and Hype

The cryptocurrency market has been experiencing a significant pullback in recent weeks, affecting various top coins. Ethereum (ETH) is one such example, having tested the $2,400 resistance level but being rejected. Nevertheless, its price remains up by 2% compared to last week.

Despite facing challenges, ETH's overall trend appears relatively stable, with a higher high forming on its chart. However, a failure to hold above the support at $2,000 could see it fall to $1,800, where buyers returned in February. Looking ahead, if ETH also manages to make a higher low, the chance of an eventual breakout above $2,400 is likely later this month or in early April.

Ripple (XRP) has been experiencing a similar situation, with its price attempting to break through the resistance at $1.6 but being rejected. Bulls will need more time to challenge that level seriously, and a consolidation under the key resistance is likely. The current support on XRP's chart is found at $1.4, and ideally, it should hold above this level since a deeper correction will put in doubt the conviction from buyers.

Cardano (ADA) has been unable to move higher due to the resistance at $0.28. Sellers have been more dominant in the second part of the past week, and the current price action shows that the support at $0.25 could be tested before bulls attempt a new rally towards the key resistance. ADA needs to break above $0.28 to turn bullish again, with key targets at 33 and 40 cents.

Binance Coin (BNB) has seen its price rejected at the $690 resistance, leading to it being down by 3% this week. Buyers are struggling to keep the price above $650, but the price did make a higher high. Another push could break the resistance, opening the way for BNB to rally towards $900.

Hype (HYPE) has managed to double its price from mid-January lows, showcasing buyers' control over the price. It has closed the week with a 4% profit and is one of the best performers in the market right now. However, the resistance at $42 has put a stop to this rally for now, and HYPE needs to move above $42 and $50 first before retesting its all-time high of $59.