Bitcoin (BTC) and Ethereum (ETH) prices are currently testing key support levels this week, while Ripple (XRP) is on a bullish trajectory. Let's dive into the latest developments:
Bitcoin Price Could Resume Rally if It Holds Above $100K
Bitcoin recently retested its support level of $100K after a 10.6% rally last week. After facing rejection at $106K, BTC trades around $101,800 on Monday. If the $100K support holds, a rally towards the all-time high of $108,353 could be on the horizon. The Relative Strength Index (RSI) indicates bullish momentum, reading 57, while the MACD has shown a bullish crossover, suggesting an uptrend.
BTC/USDT daily chart
However, a decline below $100K could see prices retest $90K.
Ethereum Price Eyes Recovery Above 200-Day EMA
Ethereum is currently hovering around its 200-day EMA at $3,125, recovering slightly to $3,276 after a 7% drop. If this level holds, ETH may target its resistance at $3,730. The RSI reads 46, indicating bearish momentum but trending upward. A potential bullish crossover in the MACD could signal an uptrend.
ETH/USDT daily chart
If ETH closes below $3,125, it could decline to $3,000.
Ripple Bulls Could Aim for Symmetrical Triangle Target at $3.63
Ripple has experienced a 30.48% rally, currently trading at $3.13 after breaking out of a symmetrical triangle. If it maintains momentum, XRP could target $3.63. The RSI indicates bullish momentum at 65, and the MACD supports this upward trend.
XRP/USDT daily chart
Conversely, a drop below $1.96 could lead to a retest of $1.40.
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