The cryptocurrency market exhibited bullish momentum this week, with Ethereum rising 7% to surpass $2,000. XRP posted a modest 2% gain, Cardano held crucial support at $0.24, and Binance Coin gained 3%. Hyperliquid’s native token, HYPE, led the altcoin sector with a 14% weekly gain, trading above $40.
A market-wide bullish shift is underway, with Ethereum closing the week 7% higher as it moved beyond the $2,000 level. If momentum continues, the next target for bulls is the $2,400 resistance, which buyers would need to establish as support to confirm a higher high and potentially open a path to $2,800. The bearish scenario would involve a sharp rejection at that key level.
Ripple’s XRP is set to close its weekly candle in green, gaining 2% after a month of seller dominance. The cryptocurrency has good support in the $1.3 area, and buyers aim to break the $1.4 resistance, with the next key target being $1.6. Momentum indicators like the MACD and RSI on the weekly timeframe are curving up, with a bullish cross appearing imminent.
Cardano (ADA) found strong support at $0.24 after months of bearish action, making a test of the $0.28 resistance likely. The most important objective is maintaining support above $0.24, as a fall below would disrupt its market structure. Should a break above $0.28 occur, key targets would be $0.30 and $0.36.
Binance Coin managed a 3% weekly gain and is holding well on support at $580, which has been tested several times. The expectation is for BNB to gain momentum and attempt a rally towards the key $690 resistance, a level it previously failed to break in mid-March. The potential for a breakout largely depends on the overall market’s rally signals.
The native token of Hyperliquid, HYPE, remains the undisputed leader in the altcoin space after closing the week with a 14% gain, which allowed its price to move beyond $40. This rally appears determined to test the $43 resistance, which rejected the price in mid-March. The cryptocurrency is likely to continue its current rally, but a price reaction at $43 could trigger a major pullback towards $36.
