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After failing to break above significant resistance levels, XRP is once again trading close to the $1 mark. The small ascending support trendline that held throughout the majority of July is now under pressure as the asset has fallen below its short-term moving averages. XRP may soon return to $1, a psychological level that has consistently drawn buyers but is growing more vulnerable after several tests, if sellers are able to disprove this support.
Over the previous few sessions, the technical picture has gotten worse. XRP made a brief attempt to move back toward the 50-day EMA, but it was rejected almost instantly, indicating that bullish momentum is still weak. The 200-day moving average is still much higher at $1.43, indicating that the overall trend is still bearish, even though the price is currently trading below the 26-, 50-, and 100-day moving averages. The trading range is getting smaller, which is a worrying signal.
In order to keep prices stable, XRP has been generating lower highs while depending on a progressively rising support line. Because the dominant trend is still downward, this structure frequently resolves with a sharp breakout. Unless buyers abruptly reclaim nearby resistance around $1.11-$1.12, the likelihood favors a move to the downside. A bullish reversal is also not currently supported by volume.
During recent attempts at recovery, trading activity has remained comparatively low, suggesting that buyers are reluctant to commit new funds. In the meantime, before XRP could gain any significant upward momentum, each push toward resistance has drawn selling pressure. Near 48, the Relative Strength Index is in a neutral range that allows for movement in either direction. Nonetheless, declining price action and a neutral RSI typically indicate waning momentum rather than accumulation.
Before confidence in a long-term recovery can resume, bulls would prefer to see the RSI rise back above 50 along with increased trading volume. The $1 barrier is still crucial. After multiple tests, psychological support frequently deteriorates, and XRP has already spent a number of weeks just above that level.
Stop-loss orders may be triggered by a daily close below $1, which would hasten selling toward the next support area at $0.95. Bulls have a simple but difficult path. While maintaining the ascending support line, XRP needs to recover the moving averages that are grouped between $1.11 and $1.15.
The asset is currently at one of its most significant technical crossroads in recent months, as the risk of losing the $1 level increases considerably in the absence of that recovery.
Zcash's psychological threshold
After yet another erratic week, Zcash has returned to one of the most significant psychological price levels of its current cycle, with the asset trying to hold above $500. The privacy-focused cryptocurrency has fallen below its local highs near $580 due to recent selling pressure, but the overall technical structure is still positive, so the upcoming sessions will be crucial in determining whether the most recent decline is just a healthy correction or the start of a deeper retracement.
Technically speaking, ZEC is still trading above every significant moving average. The 100-day and 200-day moving averages are significantly lower, at $460 and $408, respectively, while the 50-day EMA is situated around $476.
Despite recent weakness, this alignment shows that the long-term trend is still bullish. Buyers maintain the overall advantage as long as the price remains above these dynamic support levels.
Because it now acts as both a short-term technical pivot and psychological support, the $500 area is especially significant. In order to absorb profits from traders who entered much lower, Zcash required a period of consolidation following an intense rally in May and July.
Compared to the explosive buying that drove the previous breakout, the current decline has coincided with noticeably lower trading volume, indicating that panic selling has not yet taken hold. Additionally, momentum indicators suggest a cooling rather than a complete reversal. After previously reaching overbought conditions, the Relative Strength Index has retreated to the neutral zone around 49. With this reset, the market has more room to make a higher move without needing a lot of speculative momentum.
The first upside target is still the recent swing high around $580 if buyers are successful in defending the $500 region. A strong move above that level could reopen the path toward the $650–$680 area, where ZEC faced significant resistance earlier this year.
Hyperliquid's price test
One of the most significant support zones that Hyperliquid (HYPE) has tested since its explosive rally earlier this year is drawing closer. The token has retreated toward the 100-day moving average around $57, where buyers are starting to show signs of returning to the market, following a decline from recent highs above $75. A recovery toward $70 is still a plausible scenario if this level holds.
Although a large portion of HYPE's July gains have been erased by the recent correction, the overall trend has not yet broken. The 100-day moving average is serving as immediate dynamic support, and the asset is still trading comfortably above its rising 200-day moving average near $50. As a result, a technical cushion is created, which may serve as the basis for another bullish leg. Support at $57 is especially crucial because it corresponds with past breakout territory.
After a powerful rally, markets frequently revisit previous resistance, and successful retests frequently serve as the impetus for subsequent advances. Today's candle indicates that buyers are defending the level despite ongoing selling pressure, suggesting that HYPE has so far respected this area. Momentum indicators also suggest that the correction may be getting close to exhaustion.
The Relative Strength Index is at its lowest point in a few weeks, falling into the low 40s. This shows that the overheated conditions observed during the June rally have essentially been reset, even though it does not necessarily indicate a reversal. In the past, once momentum cooled into this range, HYPE frequently resumed its uptrend. The short-term and medium-term moving averages, concentrated between $63 and $65, currently represent the biggest barrier for bulls.
A clear close above those levels would probably rekindle buying interest and refocus attention on the $70 mark. After that, the next obvious target is the prior highs, which were between $75 and $76.
Conversely, the bullish outlook would be considerably weakened if the $57 support were lost. Stronger long-term support is found at the 200-day moving average near $50, and a breakdown below the 100-day moving average could expose HYPE to a deeper correction.
As of right now, though, the chart continues to favor a rebound over a trend reversal. HYPE is positioned on a technically important support zone, the long-term structure is still bullish, and the correction has restored momentum to healthier levels. A recovery toward $70 is very likely in the upcoming sessions if buyers continue defending this area.
Dan Burgin
U.Today Editorial Team
