In recent weeks, the cryptocurrency market has witnessed significant volatility, particularly affecting large-cap altcoins. The decline in global risk appetite, Bitcoin’s search for direction, and macroeconomic uncertainties have made investors cautious. Amidst these circumstances, notable projects like Cardano, Binance Coin, and HYPE have lost important technical levels, closing the week with negative or limited gains.
Bearish Pressure on Cardano and Binance Coin Intensifies
Cardano (ADA) has alarmed investors by losing its crucial support at the $0.40 mark. The asset closed the week with a roughly 3% loss, transforming its previous support level into robust resistance. Since the steep drop on October 10, price movements have distinctly reflected bear market conditions. The absence of buyers has aggressively continued the downward trend. If this pressure persists, there is a possibility that Cardano’s price could retreat towards the $0.30 level or even test below it.
On the Binance Coin (BNB) front, different yet similar risks are evident. BNB faced a harsh rejection during its attempt to break the $900 resistance, causing the price to fall back around $840. A weekly loss of 1% appears limited, yet momentum is favoring sellers. Analysts indicate that the $800 and $690 levels are crucial support points in case of further declines. Pullbacks at these levels could provide buying opportunities for long-term investors. However, the general expectation is that BNB might lag behind the market until early 2026.
HYPE and Reflected Market Developments
HYPE managed to close the week with a modest 2% rise, but its overall outlook remains weak. Having lost more than 60% of its value since late September, the cryptocurrency hasn’t signaled a robust recovery unless it surpasses the $26 mark. While the support around $22 has offered a short-term bounce, a sustained rise requires it to first settle above $26 and then $30.
In addition to technical factors, regulatory news also influences the market. Recent reports of tighter scrutiny on crypto exchanges in the United States have created general selling pressure in the altcoin market. Furthermore, some large investment funds reducing their risky asset positions have led to decreased volumes in altcoins. These developments indicate that the current downward trend is supported not only by technical but also by fundamental reasons.
The overall picture suggests caution in the altcoin market in the short term. The technical weaknesses observed specifically in Cardano, Binance Coin, and HYPE demonstrate that investor confidence has not yet returned. Nonetheless, approaching strong support levels could also offer opportunities for investors with a long-term perspective.
