This week, the correction that commenced in early October persisted, resulting in ETH concluding 2% lower. While this is a modest decline, the price has reached the $2,400 support level, which seems to be maintaining its position at the time of this observation. There exists apprehension within the market, and should the critical support level fail, it would likely result in a significant decline in prices once more. Such a scenario would result in Ethereum swiftly declining to the $2,000 level, a threshold that has not been examined as support during the preceding rally. Looking ahead, ETH exhibits signs of weakness, and the ongoing correction has only deepened with each successive week. The sole prospect for bulls lies in safeguarding the price at $2,400, as the alternative suggests a trajectory toward lower lows. XRP has experienced a decline of nearly 25% following its rejection at the $1.6 resistance level, with the current price situated at the $1.3 critical support.
This level has undergone multiple tests. While buyers managed to maintain their position here, the outlook continues to appear pessimistic. The price concluded this week with a decline of 1%, indicating that market participants are exercising caution as they await their next significant decision. That’s because a break below $1.3 would likely see this cryptocurrency quickly fall toward $1 next. Bulls must steer clear of that situation. Looking ahead, with the $1.6 resistance firmly established, buyers had no alternative but to move lower. At the time of this post, the support at $1.3 remains intact; however, it may only be a matter of time before sellers make another attempt to breach this level. ADA experienced a decline of 6% this week following the breach of its critical support level at $0.23. This indicates that buyers have probably withdrawn to the $0.20 level, where they are expected to mount their next defence of the price.
Sellers currently hold a position of strength, and it is probable that they will continue to exert pressure until the critical support level is examined. Only if they become exhausted will ADA gain an opportunity to initiate a relief rally. However, in such a scenario, the 0.23 level may be re-tested as resistance. Looking ahead, the outlook for Cardano appears to be pessimistic, with expectations for further declines based on the prevailing price movements. Wait for 0.20 to be tested and gauge the market reaction there before making any moves. Surprisingly, Binance Coin has concluded the week with a modest 2% increase. That follows the successful defence of the support level at $690 by buyers, occurring prior to any significant challenge from sellers. This positions it as the sole coin to finish in positive territory on our list. While this is promising, it could also represent a temporary bounce before sellers make another attempt at the $690 support level. This scenario becomes increasingly probable if the overall market continues to exhibit bearish tendencies in the forthcoming week.
Looking ahead, BNB appears to be consolidating by moving sideways above the key support at $690. Current resistance is at 800, but it’s unlikely to be tested unless buyers strengthen their conviction. Hyperliquid closed its fourth consecutive week in red, albeit with a 3% loss, which is not particularly alarming. However, what is concerning is the fact that the price has landed on the $76 key support level. A loss of this magnitude would disrupt its upward trajectory projected for 2026. Buyers must act promptly, or the consequence may be a rapid decline to even lower levels, including the support at $63. The battle is on, and a resolution is likely to emerge before the conclusion of October. Looking ahead, Hyperliquid remains positioned within the parameters of a significant ascending channel. A price below this channel would indicate a bearish trend for the remainder of the year. The upcoming days represent a critical juncture for HYPE, with sellers currently holding the advantage.
