Cryptocurrency Market Review for August 1: A look at Ethereum, Ripple, Cardano, Solana, and Hyperliquid

Ethereum (ETH) faced a 4% loss after failing to hit the $4,000 target, suggesting potential for a significant pullback. Ripple (XRP), also down 4%, struggled to maintain above $3 due to increased sell volume, indicating a continued downtrend. Cardano (ADA) experienced a 10% drop this week, as it couldn’t stay over the $0.90 resistance.

Solana (SOL) is facing a downtrend after being rejected at $200, and could potentially fall to key support at $164 or $150. Hyperliquid (HYPE) had a disappointing week with a 7% drop, hinting at a possible loss of its $40 support level, which could lead to a bearish trend in the short to medium term.