Major Altcoins Successfully Rebound...BNB Alone on the Brink of Collapse

▲ Ethereum (ETH), XRP, Cardano (ADA), BNB, Hyperliquid (HYPE)/AI-generated image

Ethereum (ETH), XRP, and Cardano (ADA) successfully rebounded after defending key support levels, but BNB and Hyperliquid (HYPE) faced different challenges, with BNB's weakness continuing and HYPE attempting a breakout from its range.

According to crypto media outlet Cryptopotato on July 3 (local time), Ethereum rebounded from the $1,500 support level this week, recovering last week's losses. Buying pressure regained control of the price action, closing the week up 10%. However, to confirm a sustained recovery, it needs to break through the $1,800 resistance level.

XRP also successfully defended $1 and rose 6% this week. However, the $1.1 resistance level is preventing buying momentum, and to break out of the downtrend, it needs to surpass $1.1 and recover to $1.3. Since $1 is a key psychological price point, if buying pressure fails to sustain this rebound in the future, selling pressure could increase again.

Cardano temporarily dipped below the $0.15 support level before rebounding 16%, showing the strongest recovery trend this week. However, the price formed a lower high than its previous peak. To confirm a sustained recovery signal, it needs to surpass the previous high of $0.19; if it fails to break this level, this rebound might only be a technical rebound in a bear market.

Unlike other major coins, BNB did not show a clear rebound this week. The price failed to regain the $580 support level, and if selling pressure maintains its dominance, the possibility of testing the next major support level at $500 increases. Cryptopotato also pointed out that Binance's failure to secure a MiCA license in the European Union (EU) in early July was a factor in losing a key market compared to its competitors.

Hyperliquid rebounded 6% this week after confirming support above $60. A sideways trend has continued since early June, forming a large pennant pattern, and the media saw a higher possibility of an upward breakout given that the existing trend is an uptrend. Hyperliquid needs to secure $68 as a key support level to re-challenge its all-time high of $77, and falling below $60 would strengthen bearish signals.

[Article Summary]

-Ethereum rebounded from the $1,500 support level, rising 10% weekly, but needs to break the $1,800 resistance level.

-XRP rose 6% after defending $1, but recovering $1.1 and $1.3 is key to escaping the downtrend.

-BNB failed to recover the $580 support level, and for HYPE, securing $68 support is a crucial variable for re-challenging its all-time high of $77.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. This content should be interpreted for informational purposes only.*