BTC $82,838 
ETH $2,485 
USDT $0.9992 
BNB $737.87 
XRP $1.38 
USDC $0.9996 
SOL $109.46 
TRX $0.3323 
FIGR_HELOC $1.03 
ZEC $1,213 ETH, XRP, ADA, BNB and HYPE slide in crypto market correction
Five major coins closed the week lower as the crypto market corrected, and analysts are tracking named support levels.
Key takeaways
- Five coins fell. ETH closed 9% lower, XRP 10%, ADA 7%, BNB 5% and HYPE 6% this week, CryptoPotato reported.
- Bitcoin lost support. BTC dropped below $81,000 this week, and analysts are watching $78,200 and $75,000 next, per Coinpedia.
- Levels to track. The reports name ETH support at $2,357 to $2,360, XRP near $1.278, BNB at $690 and HYPE at $76.
What happened
The broad crypto market entered a correction this week, CryptoPotato reported. ETH was no different, closing the week 9% lower. Ethereum tested the resistance at $2,800 and failed to break above it, and the price may also test the support at $2,400 soon if sellers continue to maintain the pressure.
Other large coins fell too. XRP entered a pullback and retraced by 10% this week after another failed breakout at the $1.6 resistance. ADA closed the week down by 7% after testing $0.23. Binance Coin is down 5% this week after it reached $800. Hyperliquid closed the week 6% lower as sellers sent the price into a correction towards $85.
Coinpedia cited Nick Valdez of VerifiedInvesting.com, who said that if Bitcoin keeps sliding, a few key support levels will decide how far Ethereum, XRP and the rest of the market fall. BTC dropped below $81,000 this week, losing a support zone other analysts had flagged at $81,600 to $82,930. Valdez linked the sharp move to renewed escalation in the Middle East and a social media post from President Trump.
Why it matters
Support levels now set the depth of any further decline, according to Valdez. For Bitcoin he watches $78,200, where the 50-week moving average lies, and then $75,000. His altcoin levels all depend on one thing: whether Bitcoin keeps falling.
For Ethereum, Valdez sees a bull flag, a pattern that often comes before a move higher. The bottom of that flag gives support at around $2,357 to $2,360, and ETH could later push toward resistance near $3,200 if that holds. He expects a trend line drawn from XRP's August 26 peak to offer support just above $1.278, slightly below $1.30, if Bitcoin keeps falling.
Coinpedia reported that Valdez pointed to BitMine, Tom Lee's company, which he said holds roughly 5% of all ETH in existence and earns about 3% a year from staking it. CryptoPotato said XRP has to stay above $1.3 if it wants to maintain a bullish bias long term.
What the data shows
- Ethereum: 9% weekly decline, support at $2,400, resistance at $2,800.
- XRP: 10% weekly retracement, support at $1.3, resistance at $1.6.
- Cardano: 7% weekly decline, tested $0.23, next target $0.33.
- Binance Coin: 5% weekly decline, reached $800, support at $690, next target $900.
- Hyperliquid: 6% weekly decline, resistance at $97, move towards $85, support at $76, psychological level at $100.
- Bitcoin: dropped below $81,000, prior support zone $81,600 to $82,930, next levels $78,200 and $75,000.
What is still unclear
- CryptoPotato wrote that the only unknown for Ethereum is for how long sellers will control the price action before bulls make a return.
- Coinpedia reported that Valdez's altcoin levels all depend on one thing: whether Bitcoin keeps falling.
- CryptoPotato said a major correction could be waiting if HYPE fails to hold the price within the uptrend channel.
Questions readers ask
Why did crypto prices fall this week?
CryptoPotato reported that the broad crypto market entered a correction, with ETH closing the week 9% lower. Coinpedia cited Valdez, who linked the sharp move to renewed escalation in the Middle East and a social media post from President Trump.
Where is support for XRP?
CryptoPotato said the price could easily return to the $1.3 support. Coinpedia reported that Valdez expects a trend line from XRP's August 26 peak to offer support just above $1.278, slightly below $1.30.
How much ETH does BitMine hold?
Coinpedia reported that Valdez pointed to BitMine, Tom Lee's company, which he said holds roughly 5% of all ETH in existence and earns about 3% a year from staking it.
