U.S.-made cryptocurrencies worth watching in the third week of June
U.S.-made cryptocurrencies are showing mixed signals this week, with Hedera ($HBAR), Aerodrome Finance ($AERO), and $XRP drawing attention.
XRP
2.1511
+1.38%
The focus for various reasons. HBAR is the worst performer among cryptocurrencies, having dropped by over 8.5% in the past seven days, struggling with its price falling below the $0.19 level.
In contrast, the price of AERO has risen by over 44%, driven by integration with B,ase and strong activity in the supply chain. Meanwhile, XRP remains under the investors' spotlight as they evaluate positive developments in the ecosystem against the ongoing legal uncertainty with the SEC.
Hedera (HBAR)
Hedera has dropped by more than 8.5% in the past seven days, making it the worst-performing asset among the top 10 U.S.-made cryptocurrencies.
Over the past twenty-four hours, trading volume has recorded around $102 million, remaining below the $0.19 level since May 28, reflecting continued downward pressure on the asset.
HBAR Price Analysis.
The technical situation for HBAR remains weak, as the short-term exponential moving average (EMA) lines are below the long-term EMA lines, indicating a prevailing bearish trend.
If this downward trend continues, HBAR may face the risk of retesting the key support level at $0.15. However, if the trend reverses, the coin may challenge the resistance level at $0.155 and $0.160 first.
Sustained breakout above these levels may pave the way for further gains, with potential targets at $0.175 and $0.183.
Aerodrome Finance (AERO)
Aerodrome Finance has emerged as one of the best-performing altcoins in recent weeks, achieving gains exceeding 44% in the past seven days, boosting its market cap to nearly $608 million.
As the leading decentralized platform on B,ase, Aerodrome is already managing nearly $1 billion in total value locked and over $750 million in daily trading volume, reinforcing its position at the heart of the B,ase ecosystem.
AERO Price Analysis.
Technically, the price of AERO is now approaching a critical resistance level at $0.80. If this level is breached, momentum may quickly push the price towards $0.90.
However, failing to maintain current levels may lead the coin to retreat to its nearest support level at $0.679.
If selling pressure intensifies, a deeper pullback may drive the price of AERO further down to $0.62, $0.563, or even $0.49.
XRP
Despite a series of positive developments surrounding Ripple, XRP has not gained strong momentum recently.
However, market sentiment remains cautious as investors await the outcome of Ripple's last chance to settle its lawsuit with the SEC, following a revised request that legal experts believe may not be strong enough to overturn the current ruling.
XRP Price Analysis.
Technically, the exponential moving averages (EMAs) for XRP remain in a bearish state, with short-term lines positioned below long-term lines.
If XRP can break through the key resistance level at $2.28, it may pave the way for further gains towards $2.33 and $2.48, indicating a significant technical reversal.
However, if the rise falters and the price faces a breakout of resistance, XRP may encounter renewed selling pressure and retreat towards the support area at $2.05.
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