Bitcoin, Ethereum, and Ripple Extend Gains
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) continued rising on Monday. Last week, BTC gained over 5%, ETH rose about 4%, and XRP increased more than 10%. This move follows improved market sentiment. Technical analysis shows these cryptocurrencies may rise further. Momentum indicators suggest bullish strength is growing.
Bitcoin Nears Key Resistance Levels
Bitcoin found support near the 61.8% Fibonacci retracement level at $106,453. It gained 6.57% over four days and closed above its 50-day Exponential Moving Average (EMA) at $113,397. On Monday, BTC traded above $114,975, close to the resistance at $115,137.
If BTC closes above $115,137, it may rise toward $120,000. The Relative Strength Index (RSI) is 54, showing positive momentum. The Moving Average Convergence Divergence (MACD) gave a bullish signal on Sunday.
If BTC falls below $115,137, it could drop to the 50-day EMA at $113,397.
Ethereum Shows Bullish Momentum
Ethereum rose nearly 5% last week and closed above its 50-day EMA at $4,129. On Monday, ETH traded above $4,206. If it breaks the resistance at $4,232, the price could rise further toward $4,488.
Like Bitcoin, ETH’s RSI and MACD show growing bullish momentum. If ETH corrects, it may fall toward the 61.8% Fibonacci retracement level at $3,593.
Ripple (XRP) Eyes Further Gains
XRP gained over 10% last week and closed above the 200-day EMA at $2.61. On Monday, it was near resistance at $2.69. A close above $2.69 could lead to gains toward $3.40.
XRP’s RSI and MACD also show strong bullish momentum. If XRP drops, support lies at $2.35.
