TL;DR
- Ethereum regained momentum after a brief decline, closing near $3,950 with buyers gradually returning to the market.
- XRP and Cardano posted steady gains, supported by bullish technical indicators.
- Binance Coin and Hyperliquid showed strong performance, with HYPE surging 18% this week, highlighting growing interest in smaller-cap altcoins while overall market sentiment improves cautiously.
The cryptocurrency market is showing signs of cautious recovery on October 24, as key tokens rebound from recent losses. Ethereum (ETH) is trading near $3,946, up slightly over 2% in the past 24 hours. After facing resistance around $4,000, ETH’s buyers appear to be gaining confidence again. Technical indicators suggest that a break above $4,150 could set the stage for a broader upward move.
XRP And Cardano Gain Momentum
XRP continues to build strength above $2.3 and closed today at $2.44, posting a 2% increase. Its daily MACD recently turned bullish, suggesting potential further upside if it clears resistance at $2.7. Similarly, Cardano (ADA) is trading around $0.647, up just over 1%, with bullish signals from momentum indicators supporting a move toward $0.77. Both tokens are showing steady recovery as buyers cautiously re-enter the market.
Binance Coin And HYPE Show Strong Performance
Binance Coin (BNB) is holding at $1,125, gaining nearly 2.7% in the last 24 hours, with the potential to challenge its all-time high near $1,375 if market conditions remain favorable. Meanwhile, Hyperliquid (HYPE) has been the top performer this week, rising 18% to $39.66. Maintaining support above $40 will be crucial for HYPE to test resistance levels at $43 and $46, signaling a possible sustained rally.
Market analysts suggest that recent gains are driven by short-term relief buying and positive sentiment across risk assets. Bitcoin (BTC) also supports broader market optimism, currently trading at $111,029, up 1.63%. However, some caution remains as Bitcoin dominance stays above 57%, keeping smaller altcoins under observation.
Other notable movers include Solana (SOL) at $191.44 (+1.64%) and Chainlink (LINK) at $17.66 (+1.92%), indicating moderate recovery across the altcoin sector. Traders are watching price action closely for signs of a stronger altcoin rally as the market navigates this gradual improvement phase.
The market remains dynamic, and investors are advised to monitor key support and resistance levels across these major tokens while assessing momentum for potential recovery in the weeks ahead.
