Cryptocurrency Market: Key Resistance Levels in Focus

Four cryptocurrencies - Hyperliquid (HYPE), Zcash (ZEC), Ethereum (ETH), and Shiba Inu (SHIB) - remain broadly bullish, but their recent momentum has started to cool.

HYPe, in particular, saw a significant drop of around 3.2% after reaching a high near $89, falling to around $82.50. Despite this, the broader trend for HYPE remains positive, with the token having broken above its previous major highs near $75 and remaining above its daily moving averages.

The key support area for HYPE is currently between $78-$80, which, if held, could give the token another chance to challenge $88-$90. A breakout above this level could open the way towards the psychological $100 level.

Zcash (ZEC) remains one of the strongest performers in the altcoin space, but its extended rally makes a correction increasingly possible. The token has climbed from around $480 in August to above $1,240 before pulling back to around $1,149. The first major resistance for ZEC sits at around $1,230-$1,250.

Ethereum (ETH) is holding near $2,459 after its sharp August breakout. While momentum has cooled, with trading volume declining since the breakout and RSI falling toward 60, ETH remains above its major moving averages. The immediate resistance for ETH is at $2,520-$2,560.

Shiba Inu (SHIB) remains less convincing than the other three assets but has maintained a short-term recovery. However, it faces a significant challenge in breaking through its 200-day moving average near $0.00000567.