Bitcoin Price Rises Above $117,000
Bitcoin (BTC) traded above $117,000 on Friday. Buyers are aiming for $120,000 next. BTC broke above its 50-day Exponential Moving Average (EMA) on September 10. It then rose 2.43% over six days, passing the $116,000 resistance on Tuesday. After a small pullback on Wednesday, BTC found support near $116,000 and moved up slightly. The Relative Strength Index (RSI) is at 61, showing bullish momentum. The MACD indicator shows a bullish crossover since September 6, suggesting an upward trend.
If Bitcoin falls below $116,000, it may drop further to the 50-day EMA near $113,924.
Ethereum Holds Key Support Near $4,500
Ethereum (ETH) price rose above $4,488 on September 12, gaining 5.68%. It then dropped 4.53% over four days, retesting $4,488 on Tuesday. ETH bounced back 1.98% on Wednesday and stayed near $4,500 on Thursday and Friday. The RSI reads 57, indicating mild bullish momentum. However, the MACD lines are converging, showing some uncertainty among traders.
If ETH stays above $4,488, it could move toward its all-time high of $4,956. A drop below $4,488 may lead to a decline toward $4,232, near the 50-day EMA.
Ripple (XRP) Breaks Out of Falling Wedge Pattern
Ripple (XRP) broke above a falling wedge pattern on September 11. This pattern had formed since mid-July. After the breakout, XRP gained 2.5% in two days. It then fell 3.4% until Monday, retesting the breakout level near $2.99. XRP rebounded 3% over the next two days and traded around $3.06 on Friday. The RSI is at 55, showing slight bullish momentum. The MACD also supports a positive outlook.
If XRP keeps rising, it could reach resistance at $3.40. If it falls, support lies near the 50-day EMA at $2.95.
