Bitcoin Approaches Key Resistance Level
Bitcoin (BTC) is nearing an important resistance level around $94,253. This level represents the 61.8% Fibonacci retracement from the April low of $74,508 to the October high of $126,199. Bitcoin recently pulled back after hitting this level but rebounded near $90,000.
If Bitcoin closes above $94,253 and breaks the descending trendline, it could rise toward $100,000. The daily Relative Strength Index (RSI) is close to 50, showing less bearish momentum. A move above this neutral level would support more gains. The Moving Average Convergence Divergence (MACD) also shows a bullish crossover from November.
The next support level, if Bitcoin corrects, is around $85,569 near the 78.6% Fibonacci retracement.
Ethereum Nears Key Resistance at 50-day EMA
Ethereum (ETH) broke above a descending trendline on Tuesday and gained over 6%. It then faced resistance near the 50-day Exponential Moving Average (EMA) at $3,310. ETH is currently close to this level.
A daily close above $3,310 could push Ethereum higher towards $3,592. The RSI is at 54, indicating growing bullish momentum. The MACD shows a bullish crossover that remains strong.
If Ethereum fails to hold the 50-day EMA, it may fall toward support at $3,017.
XRP Holds Support at $1.96
Ripple (XRP) found support at $1.96 last Sunday and gained 3.66% within two days. XRP later corrected and hovered around $2.03 on Friday.
If XRP maintains its support at $1.96, it could rise to resistance at $2.35. The daily RSI is at 42, near neutral, indicating weakening bearish pressure. However, MACD lines are converging, showing uncertainty.
A close below $1.96 could lead to a drop toward the next support at $1.77.
