Bitcoin Nears Key Resistance, Could Rally to $100,000
Bitcoin (BTC) showed renewed strength this week, rising by 2.34%. On Tuesday, it retested a major resistance near $94,253. This level represents the 61.8% Fibonacci retracement from April’s low of $74,508 to last October’s high of $126,199. As of Wednesday, BTC trades around $92,000.
If Bitcoin closes above $94,253, it might continue upward toward the next resistance at $100,000. The daily Relative Strength Index (RSI) is near 49, indicating bearish pressure is easing. The Moving Average Convergence Divergence (MACD) shows a bullish crossover from last week, supporting a possible rally.
However, a correction could push BTC down to the next support at $85,569, the 78.6% Fibonacci level.
Ethereum Breaks Trendline and Gains Momentum
Ethereum (ETH) broke above its descending trendline on Tuesday, rising 6.21%. It currently trades near its 50-day Exponential Moving Average (EMA) at about $3,315. A close above this EMA could open the way toward resistance at $3,592.
The daily RSI is at 57, showing growing bullish momentum. The MACD also maintains a bullish crossover from last week. These signals point to a potential continuation of the rally.
If ETH pulls back, support may be found around $3,017.
XRP Holds Support, Eyes Resistance at $2.35
Ripple’s XRP found support at $1.96 on Sunday and gained 3.66% over two days. It currently trades near $2.08. If upward momentum continues, XRP could aim for resistance at $2.35.
The daily RSI is 45, close to neutral, which indicates bearish momentum is weakening. The MACD shows a bullish crossover from last week, backing this positive outlook.
In case of a correction, XRP may test support again at $1.96.
