This week, the Made in USA Coin market has shown varied trends, highlighted by Hedera (HBAR), Aerodrome Finance (Aero), and XRP each catching attention for different reasons. HBAR has experienced the steepest decline, dropping over 8.5% during the past week and struggling to maintain a price above $0.19.
On a different note, Aero has surged by over 44%, driven by its integration with Coinbase and a robust performance in its network activities. XRP is also in focus, as investors contemplate its potential for growth amidst ongoing legal challenges with the SEC.
Hedera (HBAR)
Hedera’s performance has been disappointing, down more than 8.5% in the last week, marking it as the poorest performer among the top 10 USA cryptocurrencies.
In the last day alone, trading volumes hovered around $122 million, with HBAR failing to break above $0.19 since late May, a sign of ongoing bearish sentiment.
The technical outlook for HBAR remains weak, with short-term exponential moving averages (EMAs) positioned below longer-term ones, indicating a broader downturn.
If this downward trend continues, HBAR may test its primary support level near $0.15. However, should the trend reverse, there’s a chance it could aim for resistance at $0.155 and $0.160.
A sustained breakout beyond these levels might open the door to further gains, potentially targeting $0.175 and $0.183.
Aerodrome Finance (Aero)
Aerodrome Finance has emerged as one of the leading altcoins recently, having risen over 44% in the past week and nearing a market cap of $688 million.
The boost can be largely attributed to Coinbase incorporating base chain DEX services into its main application, a change that could significantly enhance Aerodrome’s exposure to a wider audience.
As the leading DEX on the base chain, Aerodrome currently locks around $1 billion in assets with daily trading volumes exceeding $750 million, solidifying its role in the ecosystem.
From a technical perspective, Aero is nearing crucial resistance at $0.80. If it surpasses this threshold, it could gain momentum towards $0.90.
Conversely, if it fails to hold its ground, the price may pull back to nearby support around $0.679.
In the face of increased selling pressure, deeper corrections could drive Aero down to levels like $0.62, $0.563, or even $0.49.
XRP
In spite of a series of favorable developments regarding Ripple, XRP has struggled to gain strong momentum lately.
Nonetheless, investor sentiment remains wary as many are waiting for the resolution of Ripple’s situation with the SEC, especially after revised allegations that some experts believe lack sufficient strength to overturn the existing ruling.
Technically, XRP’s EMA indicators remain bearish, with short-term lines situated below the long-term lines.
If XRP can manage to overcome the resistance at $2.28, it might pave the way for profits reaching $2.33 and $2.48, signaling a significant reversal.
However, should it face resistance and its price decline, XRP may find itself revisiting support levels around $2.05.
