Foreign media commentators believe that BTC, ETH, XRP, and Hyperliquid have diverged recently after a sharp drop. Bitcoin and Ethereum show signs of short-term stabilization, but the overall downward trend has not yet reversed; XRP remains weak, while HYPE has maintained relative strength after a pullback.
BTC and ETH stabilize in the short term
The article states that Bitcoin has temporarily stabilized after falling nearly $60,000, with a buying back influx bringing a mild rebound. However, BTC has not yet recovered its major moving averages, and its long-term momentum remains weak. If it continues to fall below $60,000, the price may further test lower support levels.
Ethereum's price action mirrored Bitcoin's. ETH briefly dipped below $1600 before recovering to around $1620, but remains below major moving averages. The article argues that the downward consolidation pattern formed in April and May has been broken, and while there may be room for a short-term rebound, the overall trend remains bearish.
- The current key level to watch for BTC is around $60,000.
- After the rebound, ETH will first face the $1800 to $2000 range.
- Neither has yet recovered its major long-term moving averages.
XRP remains in a weak position.
The article argues that while XRP has rebounded from the $1.05-$1.10 range to around $1.12, its overall performance still lags behind most major assets. The previous support level around $1.30 has now turned into resistance; if the price returns to that area, it may face strong selling pressure again.
The article mentions that the increased trading volume when XRP broke through key support indicates that the selling pressure has not yet significantly changed. Although technical indicators have entered oversold territory, in a continued downtrend, oversold conditions alone are not sufficient to confirm that a bottom has formed.
HYPE remains strong after pullback
Compared to the previous three, the pullback in Hyperliquid's token HYPE appears more like profit-taking after a rapid rise. The article states that HYPE found buying support after falling from a high of nearly $76 to the $50 range, and its price remains above its long-term moving average, giving it relative strength in the current market.
The article argues that the long-term upward structure of HYPE remains intact, and the previous overheated sentiment has cooled somewhat during the pullback. If the current support area remains effective, the price may retest the $70 to $76 range; however, a break below $50 would suggest a potentially wider correction.
