XRP, Zcash, HYPE, SHIB: Key support and resistance levels after a sharp decline have attracted atten

Major altcoins fluctuate near key support levels. Can buyers reverse the decline?

Major altcoins, including Ripple (XRP), Zcash (ZEC), Hyperliquid (HYPE) and Shiba Inu (SHIB), have fallen sharply after experiencing highs in late September and are now trading near key support levels. Traders and investors are closely watching whether buyers can hold these areas and resume bullish momentum in the coming trading day.

XRP: Weak trading volume hinders rebound

Ripple (XRP) is currently trading around $1.395 after falling sharply from a high of $1.66 in late September. The token fell to $1.32 during a sell-off in early October, before recovering slightly. Despite the rebound, trading volumes remained sluggish and the short-term trend continued to tilt downward.

Technical indicators show XRP hovers below the 50-day moving average (about US$1.40), while the long-term moving average of US$1.34 is not far below it. Prices have previously been supported at this level. Market participants view $1.35 as a key threshold; maintaining above that level could consolidate the current recovery momentum, while closing below that level would add to downward pressure.

Immediate support is at US$1.35 and US$1.32, with deeper support at US$1.25-the area that drove August's gains. Resistance levels are at $1.45 and $1.50, where sellers have stepped in multiple times in the past few weeks.

If XRP is to regain its momentum of recovery, it must accompany the increase in trading volume and stand firm above $1.45. If that happens, the next target will be $1.50, and a breakthrough will pave the way to $1.60. Conversely, if it closes below $1.35, the price may fall to $1.32 and may even test $1.25.

Zcash: Sticking to the US$1,190 mark after a sharp correction

Zcash, the cryptocurrency that focuses on privacy transactions, is currently trading at approximately US$1,236 after a significant retreat from a high of US$1,700 in late September. The token stabilized after bottoming out at $1,190 and remains above its long-term moving average near $750, reflecting the strength of the previous rally that began in August.

Although the overall upward trend is in an overall upward trend, ZEC's short-term momentum is weakening as recent band highs are blocked. The key support level is at $1,190, and if it breaks below, the next target will be $1,100, followed by the psychologically significant $1,000 level. On the upside side, resistance is at $1,300, while levels of $1,350 and $1,400 may limit short-term gains.

If the daily closing price successfully reaches US$1,300, accompanied by increased trading activity, it will strengthen buyer confidence and lay the foundation for moving towards US$1,400 or even retesting the high near US$1,700 in late September. Otherwise, continued weakness below $1,190 could indicate that upward momentum is being lost. As market participation declines, convincing directional breakthroughs may require a significant increase in trading volume.

Mini Dictionary: Zcash (ZEC) was launched in 2016 and uses zero-knowledge proof technology to achieve fully private transactions, allowing users to hide sender and recipient details and transaction amount.

Hyperliquid and Shiba Inu: Still consolidating within range

The decentralized derivatives agreement token Hyperliquid (HYPE) has slipped from a peak of US$98 in late September to approximately US$85.24. The token rebounded slightly after testing support around $83 and is currently trading above the short-term moving average of $84, but remains below the resistance zone of $88. The long-term trajectory remains positive as HYPE is well above its main $64 and $76 moving averages.

Key levels to focus on for HYPE include support at $83, with additional backup support at $78 and $74. If HYPE can close above $88 with strong volume, it will target $92, while the challenge of clearing $95 will point to the previous high of $98. However, if it falls decisively below US$83, the token may fall to US$78 or lower.

Shiba Inu Coin (SHIB) continues to hover below the long-term moving average of US$0.0000560, indicating a weakening trend of preventing. The token is currently priced at $0.0000542, and buyers are guarding against the $0.0000530 level. Immediate support remains at $0.0000530 and $0.0000510, while resistance is visible at $0.0000560 and a re-emergence of $0.0000580. A breakthrough of $0.00000560 would indicate improved bullish momentum, with targets set at $0.0000580 and $0.0000600. A fall below $0.0000510 would expose support areas extending downward to $0.0000470 and $0.0000450, marking lows last summer.

For HYPE and SHIB, price movements in the next few trading days will determine whether the current support level is solid. Both need to decisively break through their respective trading ranges to establish a clearer direction.