This week, we examine Ethereum, Ripple, Cardano, Binance Coin, and Toncoin in greater detail.

Ethereum (ETH)

At the start of this week, Ethereum had a good attempt at a relief rally, but the bullish momentum soon stopped when the price reached $2,000. Sellers returned there and pushed ETH into a pullback, closing with a 3% loss.

The fact that the price was unable to hold above $2,000 means bears are still in control at the time of this post. They may also attempt to break the key support at $1,800 next.

Looking ahead, Ethereum remains in a downtrend. The price failed to make a higher high or higher low, and a re-test of the key support appears likely. Buyers have to defend $1,800 if they want to avoid lower price levels.

Chart by TradingView

Ripple (XRP)

XRP is in a similar boat to Ethereum. Its recent relief rally topped at $2.6 before sellers returned to push the price into a pullback, which is why XRP fell by 7% on the weekly timeframe.

The most important support on the chart is found at $2, where buyers always return to make a stand. XRP may soon find itself in a difficult position as this level has already been tested seven times, and each new attempt is an opportunity for sellers to break it.

Looking ahead, XRP appears weak at the time of this post and seems unable to address the pressure from sellers. Hopefully, buyers will return at $2 as the alternative is a quick fall to $1.6 after that.

Chart by TradingView

Cardano (ADA)

ADA has been moving sideways for the past three weeks with the price stuck in a tight range. This is why it also closed the week with a 1.5% loss. While this is not significant, this consolidation period may anticipate a larger move later.

The most important support is at $0.64, and the key resistance is at $0.9. If ADA buyers remain absent, then the support may be put under pressure soon. Should it not hold, then bulls will likely retreat to the next support level at $0.5.

Looking ahead, Cardano is not giving any clear clues on where it plans to move next. It is best to wait for the price to pick a clear direction before considering your next move.

Chart by TradingView

Binance Coin (BNB)

Binance Coin managed to hold steady, and its price is similar to last week. Considering that other altcoins are in the red, BNB did well and managed to stay above $600, which is a key support level.

The current resistance is found at $700. As long as buyers keep BNB above $600 there is a good chance this cryptocurrency can test the key resistance in the future.

Looking ahead, BNB is looking stronger than most altcoins and has been consolidating around $600 since April 2024. Eventually, the price will leave this range, hopefully to the upside to test the ATH at $794.

Chart by TradingView

Toncoin (TON)

Toncoin is the only cryptocurrency on our list that closed the week in green with a 10% price increase. This is impressive considering most altcoins are in the red right now.

This performance comes after buyers broke the resistance at $3.75 and turned it into key support. During its rally, TON reached $4, and the next key resistance is found at $4.62.

Looking ahead, Toncoin could continue its rally, but it is unlikely to sustain it if the overall market remains somewhat bearish. It is best to be cautious when the price is above $4, as TON could also enter a pullback.

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Cryptocurrency charts by TradingView.