Hyperliquid (HYPE), XRP, Zcash (ZEC) and Ethereum (ETH) Price Analysis for October 8: Market Retains Pressure

The cryptocurrency market is facing renewed selling pressure as several major assets test critical support levels.

Arman Shirinyan · 8 Oct 2026 · 8 min read

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Hyperliquid (HYPE), XRP, Zcash (ZEC) and Ethereum (ETH) Price Analysis for October 8: Market Retains Pressure

Price Analysis

By
Arman Shirinyan

Thu, 8/10/2026 – 3:00

The cryptocurrency market is facing renewed selling pressure as several major assets test critical support levels.

Hyperliquid (HYPE), XRP, Zcash (ZEC) and Ethereum (ETH) Price Analysis for October 8: Market Retains Pressure

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Pressure on Hyperliquid rises
XRP comes back unexpectedly
Will Zcash stabilize?
Ethereum’s unexpected downfall

Hyperliquid (HYPE): HYPE remains broadly bullish but faces rising short-term downside risk after failing near $95, with $84-$85 serving as key support.
XRP (XRP): XRP’s short-term structure has turned bearish after breaking below $1.45, making the $1.37-$1.40 support zone critical to preserving its broader recovery.
Zcash (ZEC): ZEC remains in a broader uptrend but is undergoing a significant correction, with $1,280-$1,300 as the key support area needed to prevent deeper losses.
Ethereum (ETH): ETH’s sharp decline has weakened short-term momentum, with the crucial $2,500 support likely to determine whether the move stays corrective or develops into a broader reversal.

Pressure on Hyperliquid rises

Hyperliquid is undergoing another sharp correction after failing to sustain its recovery toward the September highs. HYPE currently trades around $88.60, falling from an intraday high above $92 and putting the short-term bullish structure under renewed pressure.

The broader trend remains positive. HYPE rallied from approximately $57 in mid-August to a September peak near $97.50, with price continuing to trade comfortably above its medium- and long-term moving averages. However, the latest structure shows that momentum is weakening.

After reaching $97.50, HYPE initially corrected toward $85 before recovering to approximately $95. The failure to establish a new high, followed by another strong red daily candle, creates a potential lower-high structure. RSI has simultaneously slipped toward the neutral area, showing that buyers have lost some momentum.

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The immediate support sits around $87-$88, close to the rising short-term moving average. More important support exists at $84-$85, where HYPE previously attracted significant buying pressure.

A breakdown below $84 could trigger a deeper correction toward $80-$82. Below that, approximately $75 becomes the next major technical level.

For bulls, reclaiming $92.50 would improve the setup, while a breakout above $95-$97.50 is necessary to restart the broader rally and potentially open the way toward the psychological $100 level.

For now, HYPE remains structurally bullish on the broader timeframe, but another failure around $95 has increased short-term downside risk.

XRP comes back unexpectedly

XRP has suffered a significant technical setback, falling toward $1.43 after spending several weeks consolidating around $1.50. The latest daily candle has pushed the asset below its rising short-term moving average, making the next support zone increasingly important.

XRP’s September rally peaked around $1.65 before buyers repeatedly failed to produce another breakout. Price subsequently formed several lower highs around $1.55, $1.53, and $1.52, indicating gradually weakening demand.

The latest decline confirms that deterioration. XRP has broken below approximately $1.45, which previously served as both short-term support and the location of its fastest rising moving average.

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Attention now shifts toward $1.40. A medium-term moving average sits around this level, while additional long-term support is concentrated near $1.37-$1.38. This makes the $1.37-$1.40 region particularly important for the broader trend.

A decisive breakdown below $1.37 could expose $1.30-$1.33 and erase a substantial portion of XRP’s September recovery. Momentum is also weakening, with RSI dropping toward 50 after remaining predominantly bullish during the previous advance.

The bullish scenario now requires XRP to reclaim $1.45 first. A return above $1.50 would provide stronger evidence that the breakdown was temporary, while $1.55-$1.60 remains the larger resistance zone.

Until then, XRP’s short-term structure favors sellers, with the $1.37-$1.40 support cluster likely to determine whether the broader recovery remains intact.

Will Zcash stabilize?

Zcash is attempting to stabilize after one of the strongest rallies among major cryptocurrencies turned into a substantial correction. ZEC currently trades near $1,325, down roughly 22% from its recent peak around $1,700.

The correction itself is significant, but the broader technical structure has not collapsed. ZEC remains well above its medium- and long-term moving averages after rising from roughly $500 in August. The problem is that short-term momentum has changed dramatically.

After reaching the $1,650-$1,700 region, ZEC produced a sequence of lower highs and lower lows, eventually falling toward $1,300. The short-term moving average around $1,320-$1,330 has now become the immediate battleground. RSI has also fallen below the neutral 50 area, confirming that bullish momentum has largely disappeared.

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The $1,280-$1,300 region is therefore critical. A decisive daily close below it could extend the correction toward $1,200-$1,170, where the next rising moving averages provide considerably stronger structural support. Losing that area would make a move toward $1,000 increasingly realistic.

For a recovery, ZEC first needs to reclaim $1,400. Above it, $1,450-$1,500 represents the next major resistance cluster. Only a sustained return above $1,550 would put the recent highs back into play.

ZEC remains in a broader uptrend, but the market has clearly entered a corrective phase. Holding $1,300 could produce another rebound; losing it would materially deepen the correction.

Ethereum’s unexpected downfall

Ethereum has recorded a sharp daily decline, falling from an intraday high near $2,700 to approximately $2,560. The move breaks the relatively tight consolidation that had kept ETH between roughly $2,650 and $2,750 since late September.

The immediate technical damage is visible. ETH has fallen below its rising short-term moving average near $2,630, while RSI has dropped rapidly toward the lower half of its neutral range. The large red candle also comes with elevated volume compared with several preceding sessions, strengthening the bearish short-term signal.

However, Ethereum is approaching a much more important support cluster. The $2,500-$2,520 region coincides with rising medium-term moving averages and previously acted as resistance during September. That makes it the first major level capable of stopping the decline.

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If $2,500 holds, ETH could attempt to reclaim $2,600 before challenging $2,680-$2,700 again. A recovery above $2,700 would largely neutralize the current bearish move, while $2,780-$2,800 remains the major upside barrier.

A daily breakdown below $2,500 would create a considerably weaker setup. The next meaningful support appears around $2,400-$2,450, followed by the $2,300-$2,350 region containing the slower long-term moving averages.

Ethereum’s broader recovery therefore remains intact for now, but buyers have little room left. The reaction around $2,500 should determine whether the current move remains a normal correction or develops into a larger bearish reversal.

#Hyperliquid
#XRP
#Zcash
#Ethereum