US-made cryptocurrencies worth watching in the third week of June.
US-made cryptocurrencies show mixed signals this week, with Hedera ($HBAR), Aerodrome Finance ($AERO), and $XRP drawing attention.
XRP
2.1511
+1.38%
Attention for various reasons. HBAR is the worst performer among cryptocurrencies, having dropped over 8.5% in the past seven days and struggling with its price falling below $0.19.
In contrast, AERO has surged over 44%, driven by integration with B,ase and strong activity in the supply chain. Meanwhile, XRP remains in the spotlight for investors as they assess positive developments in the ecosystem against ongoing legal uncertainty with the SEC.
Hedera (HBAR)
Hedera has declined by more than 8.5% over the past seven days, making it the worst-performing asset among the top 10 US-made cryptocurrencies.
Over the past 24 hours, it recorded a trading volume of around $102 million, remaining below the $0.19 level since May 28, reflecting ongoing downward pressure on the asset.
HBAR Price Analysis.
The technical situation for HBAR remains weak, as the short-term exponential moving average (EMA) lines sit 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 first challenge the resistance level at $0.155 and $0.160.
A 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% over the past seven days, pushing its market value 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, AERO's price is now approaching a critical resistance level at $0.80. If this level is broken, momentum may quickly drive the price towards $0.90.
However, failing to maintain current levels could see the coin 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, or $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 modified request that legal experts believe may not be strong enough to overturn the current ruling.
XRP Price Analysis.
Technically, the exponential moving averages (EMAs) of XRP remain bearish, with short-term lines positioned below long-term lines.
If XRP can break through the key resistance level at $2.28, it could pave the way for further gains towards $2.33 and $2.48, indicating a notable technical reversal.
However, if the rally falters and the price breaks below the resistance level, XRP may face renewed selling pressure and retreat towards the support area at $2.05.
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