Bitcoin continues its rally towards its all-time high, standing at the brink of the psychologically significant $100,000 mark. Other leading cryptocurrencies also show significant movements.
Bitcoin: Nearing the $100,000 Breakout
Bitcoin rose above the 20-day exponential moving average ($97,700) on Feb. 20, indicating bulls are trying to seize control. Breaking the $100,000 level could lead to further surges to $102,500 and $106,500. However, bears might attempt to pull the price down to $93,388 to open the way to $90,000 support.
Ethereum and Price Movement Forecast
Ether reached the breakdown level of $2,850 on Feb. 21, but the long wick on the candlestick shows strong selling pressure. If the price stays below the 20-day EMA, bears may attempt to sink the ETH/USDT pair below $2,500. On the upside, the price could reach the downtrend line if it rises above $2,850.
Other Leading Cryptocurrencies: XRP, BNB, and More
Traders continue to watch other cryptocurrencies closely. XRP is trying to break above the 50-day SMA, but bears are resisting. BNB sees efforts to push above $686, with buyer activity also visible in Solana, Dogecoin, and Cardano.
Although Bitcoin has been range-bound for weeks, interest in spot ETFs continues to grow. Investors continue to watch for cryptocurrencies breaking key resistance levels, which could significantly impact the overall market.
