Crypto Price Analysis August-07: ETH, XRP, ADA, BNB, and HYPE

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)

This week, Ethereum continued to range without any significant volatility. This has allowed the price to consolidate under the $2,000 resistance. At the time of this post, the support at $1,800 is holding well and was recently re-confirmed.

The concern, based on this price action, is that ETH does not have the strength to break above $2,000. Any attempts in the past few weeks were rejected and sellers could speculate on an opportunity to take over.

Looking ahead, Ethereum remains in a macro downtrend, and this will only change once the price makes a higher low and high. Ideally, ETH secures $2,000 as support and aims for $2,400 next to escape the current downtrend.

Ripple (XRP)

As expected, XRP broke below its latest pennant (in blue on the chart) to re-test the key support at $1. It is critical for buyers to hold here, as otherwise, the price may end up in a nosedive.

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