- Bitcoin, Ethereum, and Ripple are showing bullish signs as they approach key resistance levels, with potential rallies ahead if they break through.
- Technical indicators like RSI support a recovery trend, but failure to breach resistance could trigger fresh declines.
After weeks of consolidation and bearish pressure, Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are flashing signs of life. All three top cryptocurrencies are approaching key resistance levels that could spark a bullish breakout if breached.
Bitcoin Eyes Breakout Above $106,400
Bitcoin has been flirting with the crucial resistance level of $106,400 — a threshold that has repeatedly held BTC back. After a brief dip last week, BTC managed to recover slightly over the weekend and into early this week. Now, it’s inching closer to this resistance again.
The daily Relative Strength Index (RSI) reads 54, climbing from the neutral 50 mark, hinting at growing bullish momentum. If Bitcoin manages a daily close above $106,400, it could pave the way for a renewed rally toward its all-time high of $111,980. However, a failure at this level could drag the price down to retest the psychological $100,000 support.
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Ethereum Leans on 200-Day EMA Support
Ethereum is finding strong footing at its 200-day Exponential Moving Average (EMA) near $2,461. After nearly a month of sideways movement, ETH is approaching its upper consolidation limit of $2,724.
With an RSI of 62, Ethereum is firmly in bullish territory. A decisive close above $2,724 could send ETH soaring toward the key $3,000 psychological level. Conversely, a breakdown below the 200-day EMA would expose it to a potential fall to $2,329.
Ripple Looks to Reclaim Lost Ground
XRP is attempting a rebound after a steep 4.65% drop last week. It’s now nearing its key resistance at $2.23, with the next bullish milestone set at the 50-day EMA of $2.27.
The RSI is climbing toward 50, signaling waning bearish pressure. If XRP can close above $2.27, it could gain traction toward the next resistance level at $2.72. But if rejected again, a retest of $1.96 support may be on the cards.
With bullish momentum gradually returning and RSI indicators ticking upward across the board, BTC, ETH, and XRP could be on the verge of a strong comeback — but the next few days will be critical. Watch those key resistance levels closely.