Altcoins Fluctuate as Ethereum and Ripple Struggle with Volatility

Ethereum (ETH) continues to range without significant volatility this week. The price has consolidated under $2,000 resistance and currently holds support at $1,800.

The concern is that ETH lacks strength to break above $2,000, with previous attempts being rejected by sellers. To change the macro downtrend, Ethereum needs to make a higher low and high. Ideally, it would secure $2,000 as support and aim for $2,400 to escape the current downtrend.

Ripple (XRP) broke below its latest pennant and re-tested the key support at $1. Buyers must hold this level or risk a price nosedive. Sellers currently have the advantage, with XRP closing the week 4% lower. If $1 turns into resistance, XRP's downtrend will be difficult to stop.

Cardano (ADA) is one of the few major altcoins closing in double-digit gains this week, up 18%. The price has moved to $0.20 and may reach $0.23, but this is major resistance. ADA currently holds support at $0.15 and has good momentum from buyers.

Binance Coin (BNB) was flat this week and mirrors ETH's price action in a more toned-down way. It appears to hold above the support at $580, but buyers did not push beyond this level. The price remains in a downtrend, which may hint at a possible reversal later this year.

Hype (HYPE) managed to close 3% higher this week after testing the $52 support level. However, this could be a temporary bounce before sellers return to push against the key support again. On higher timeframes, HYPE has lost its uptrend and made lower lows, which is bearish.