Market Evaluation for August 1st: Ethereum, Ripple, Cardano, Solana, and Hypecoin
In the ever-evolving world of cryptocurrencies, the ongoing market fluctuations have brought about significant shifts in the value of various digital assets. As we approach early August 2025, let's take a look at the key support levels for some of the most prominent players in the market.
Ethereum (ETH)
The second-largest cryptocurrency by market capitalisation, Ethereum, has seen a series of ups and downs in recent weeks. The rejection at $3,900 may cause Ethereum to pull back, potentially re-testing support levels at $3,600 and $3,400. It's crucial for Ethereum to find a support level to stabilise before attempting another push towards the $4,000 resistance. The key support levels for Ethereum are as follows:
- Short-term support: $3,600–$3,620
- 50% Fibonacci retracement: $3,422
- Critical support: $3,094
- Additional support: $3,013 (50-day SMA) and then $2,800
Ripple (XRP)
Ripple, another significant player in the cryptocurrency market, has been experiencing a downtrend. Buyers are currently defending the $3 level, but are under pressure from increasing sell volume. The search results did not provide detailed support levels for XRP, thus making it difficult to reliably state specific support levels from this data. However, if Ripple cannot hold above $3, sellers have the opportunity to push it lower towards $2.7.
Cardano (ADA)
Cardano, the fifth-largest cryptocurrency by market capitalisation, has been struggling to sustain above the resistance at $0.90. As a result, it's currently down 10% this week. No recent search results included technical data on Cardano’s support levels, so no specific support information is available.
Solana (SOL)
Solana, the sixth-largest cryptocurrency, has been on a downtrend, with a 6% loss this week, bringing it closer to the key support levels at $164 and $150. Historically, buyers have become active near the $150 level, making it a key pivot point for potential reversals. However, the search results did not include recent technical analysis or support levels for Solana.
Hyperliquid (HYPE)
Hyperliquid, a less established cryptocurrency, has been in a clear downtrend, with the correction appearing more serious than initially anticipated. It may remain between $40 and $30 until it finds a good support base to recover. The key psychological level at $40 is crucial for Hype's price action. However, there is no relevant or recent data found for Hyperliquid (HYPE) support levels in the search results.
In summary, only Ethereum's recent support levels are detailed and actively tracked, showing critical support in the $3,600–$3,620 range and major support at $3,094 with further potential downside near $3,013 and $2,800 if these levels break. The other cryptocurrencies—XRP, ADA, SOL, and HYPE—lack recent or relevant technical support data in the provided search results.
Ethereum, with its key support levels at $3,600–$3,620, $3,422, $3,094, $3,013, and $2,800, requires finding a stable level to continue pushing towards the $4,000 resistance. Ripple's support levels are not clearly outlined, but a potential decreasing trend among sellers may lead to a push towards $2.7 if Ripple fails to hold above $3. The support levels for Cardano, Solana, and Hyperliquid are not found in the recent technical analysis data in the provided search results. For crypto traders investing in the mentioned digital assets, it's essential to monitor Ethereum's short-term and long-term support levels.
