Bitcoin Surpasses $120,000 Level
Bitcoin (BTC) started the week strong, rising 1.92% on Monday. It closed above the 50-day Exponential Moving Average (EMA) at $114,076. After a slight dip on Tuesday, BTC found support near the 50-day EMA. It then continued to rise and closed above $120,000. On Friday, BTC traded around $119,800.
If Bitcoin keeps its upward trend, it may reach its all-time high of $124,474. The Relative Strength Index (RSI) is at 64, showing bullish momentum. The Moving Average Convergence Divergence (MACD) gave a buy signal on Wednesday, suggesting more gains ahead. However, if BTC falls, it could drop to support at $116,000.
Ethereum Eyes Higher Gains Above $4,488
Ethereum (ETH) found support near the 200-day EMA at $3,905 on September 25. It then rose 7.10% by Sunday. ETH kept climbing and closed above resistance at $4,232 on Wednesday. It gained 3.14% the next day and approached the next resistance at $4,488. On Friday, ETH traded near $4,500.
If ETH closes above $4,488, it could move toward its record high of $4,956. The RSI is 57, indicating growing bullish momentum. Like Bitcoin, ETH’s MACD showed a bullish crossover this week. If ETH corrects, it may fall back to support at $4,232.
XRP Breaks Out of Falling Wedge Pattern
Ripple (XRP) broke above a falling wedge pattern on Thursday. This pattern formed since mid-July by connecting lows and highs with trendlines. A breakout usually signals a bullish move. On Friday, XRP traded around $3.01.
If XRP continues rising, it could reach resistance at $3.40. XRP’s RSI and MACD indicators also support a bullish outlook. If XRP corrects, it might drop to support at $2.72.
