Last week, prices of Bitcoin, Ethereum, and XRP saw significant increases. This movement led to a solid upward trend, with Bitcoin nearing the crucial psychological $100,000 mark.
Current Bitcoin Bullish Momentum
Bitcoin shows significant recovery, rising to $96,200 after a dip earlier this week. The Relative Strength Index (RSI) shows bullish momentum at 67, though caution is needed due to a bearish MACD signal. Failure in recovery may lead to testing $90,000 support level again.
Ethereum Targets $4,000 After Breaking Resistance
Ethereum has surpassed the weekly resistance level of $3,454 and is now moving towards $3,560, gaining nearly 10% for the week. Maintaining support at $3,454 could push Ethereum towards $4,000. The RSI for Ethereum also signals bullish momentum at 66, not entering overbought territory.
XRP Gains Momentum: Aiming for Multi-Year Highs
XRP is firmly anchored at $1.40, now trading at $1.54. After a recent rally of over 10%, XRP has closed above its weekly resistance level. Analysts believe that with support, XRP could aim for the 3-year high of $1.96. However, the RSI indicator at 85 signals overbought conditions, potentially requiring correction.
The activity in cryptocurrencies continues to fuel market optimism despite volatility. Bitcoin nearing the $100,000 mark generates interest among investors and traders. Ethereum and XRP are also poised for potential further rallies, contributing to positive expectations in the crypto space.
