Ethereum, HYPE, XRP, and Zcash fall sharply, key support levels in focus

HYPE shifts to downside risk near key support

Hyperliquid, the native token of the decentralized exchange platform Hyperliquid, has faced another downturn after unable to reclaim its September highs. HYPE is currently trading around $88.60, retreating from an intraday peak above $92, as buyers struggle to maintain control following a consistent uptrend since August.

After rallying from $57 to a September high near $97.50, HYPE enjoyed comfort above its medium- and long-term moving averages. However, momentum has started to fade. The token corrected from its peak toward $85, attempted a recovery to $95, but failed to post a new high. With the latest daily red candle, analysts now see the short-term bullish setup under increased pressure, especially as the Relative Strength Index (RSI) approaches neutral, demonstrating waning buyer strength.

Immediate support is seen at $87-$88, aligning with the rising short-term moving average. More important support exists at $84-$85, where market participants previously stepped in aggressively. A breakdown under $84 could lead to additional losses toward $80-$82, while $75 becomes the next significant level below.

A recovery for bulls hinges on first reclaiming $92.50, then breaking out above $95-$97.50 to restart the broader rally. Without these, HYPE remains at risk of further downside, despite still holding its larger bullish structure.

Mini dictionary: Hyperliquid, a decentralized exchange protocol known for its order book-based trading and low latency execution, has become notable for its focus on fast, transparent on-chain trading without reliance on centralized intermediaries.

After failing to regain the $95 area, HYPE faces short-term downside risk as support at $84-$85 now plays a crucial role in maintaining its bullish trend.

XRP tests critical supports after breaking down

XRP, the digital asset associated with Ripple Labs, has seen its technical setup deteriorate after falling towards $1.43. The last several weeks saw XRP consolidating around $1.50, but a new selloff has pushed it below its rising short-term moving average, making the nearby support levels its next critical test.

Following a September rally to $1.65, XRP formed a series of lower highs at $1.55, $1.53, and $1.52. This downshift signaled fading bullish enthusiasm. Breaking below $1.45, previously both a support and the location of its fastest moving average, has shifted the outlook in favor of sellers.

Market focus now turns to the $1.37-$1.40 zone. This region holds both the medium-term moving average and longer-term technical support. If buyers cannot protect this cluster, a decline toward $1.30-$1.33 could rapidly unfold, erasing much of the asset’s previous recovery. Meanwhile, the RSI is slipping toward 50, consistent with declining momentum.

To reverse the immediate bearish outlook, XRP must reclaim $1.45, then move above $1.50, with larger resistance remaining at $1.55-$1.60. Until then, conditions continue favoring sellers in the near term.

XRP’s shift below $1.45 and its cluster of lower highs now put the emphasis on holding $1.37-$1.40 to avoid a deeper correction.

Zcash corrects but holds broader uptrend

Zcash, a privacy-focused cryptocurrency launched in 2016, is navigating a significant pullback after one of its strongest rallies in recent months. ZEC is currently trading around $1,325, down about 22% from a peak of roughly $1,700. Despite the intensity of the correction, the asset remains well placed above its medium- and long-term moving averages after a steady climb since August.

Short-term momentum has faded as a sequence of lower highs and lows pulled ZEC to $1,300. The crucial battleground lies at $1,280-$1,300, where the short-term moving average provides immediate support. The RSI also suggests that upside momentum has largely dissipated.

If ZEC closes the day below $1,280-$1,300, analysts expect potential extension of losses into the $1,170-$1,200 range, where structural supports remain stronger. Should these levels be lost, a move toward $1,000 may become likely. For a shift back to bullish sentiment, ZEC must first reclaim $1,400, with further resistance at $1,450-$1,500. A sustained break above $1,550 would put previous highs back in play.

Despite current weakness, holding $1,300 could spark another rebound, while losing this area would deepen the correction and threaten the broader uptrend.

Ethereum eyes pivotal support amid selloff

Ethereum, the world’s leading smart contract platform, has registered a sharp decline, sliding from an intraday high near $2,700 to approximately $2,560. This move ends a period of consolidation between $2,650 and $2,750 and pushes the asset below its short-term moving average near $2,630.

The latest sell-off saw RSI fall quickly toward the bottom half of its neutral range, while trading volumes spiked compared to recent sessions. This draws attention to the $2,500-$2,520 region as a key area which previously acted as September resistance and now aligns with rising medium-term moving averages.

If buyers defend $2,500, ETH may attempt a recovery toward $2,600 and then $2,680-$2,700. Overcoming $2,700 would neutralize current bearish sentiment, while major resistance remains at $2,780-$2,800. A breakdown below $2,500, however, would signal further weakness, with new support at $2,400-$2,450 and then $2,300-$2,350.

While Ethereum’s broader uptrend is technically intact, traders are closely watching the reaction at $2,500, which is likely to determine whether this move remains a short-term correction or develops into a deeper bearish reversal.