Bitcoin, Ethereum, and Ripple: Are We on the Cusp of a Major Rally?
Fxstreet•3 months ago•
860

Bitcoin, Ethereum, and Ripple: Are We on the Cusp of a Major Rally?

Market Sentiment
bitcoin
ethereum
ripple
priceprediction
cryptocurrency
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Summary:

  • Bitcoin bounces off $92,606 support, suggesting a recovery towards $100,000.

  • Ethereum targets $4,000 if it breaks above $3,522.

  • Ripple shows potential for a breakout towards $3.63 if it closes above $2.56.

Bitcoin Price Shows Signs of Recovery

Bitcoin's price has recently bounced off the key support level of $92,606, indicating a potential recovery. Currently trading around $97,000, if this support holds, BTC might aim for the $100,000 mark, with a successful close above it potentially leading to a rally towards its all-time high of $108,353.

BTC/USDT daily chart BTC/USDT daily chart

Ethereum Approaches Key Resistance

Ethereum is currently consolidating between $3,245 and $3,522. Trading at $3,461, a breakthrough above $3,522 could signal an extension towards the $4,000 psychological level. However, if it falls below $3,245, it may retest the next support level at $3,000.

ETH/USDT daily chart ETH/USDT daily chart

Ripple's Potential for Upward Momentum

Ripple is currently trading at $2.45 and is poised within a symmetrical triangle formation. A breakout above the $2.56 level could target $3.63. The RSI at 61 suggests bullish momentum, while the MACD indicates an upward trend.

XRP/USDT daily chart XRP/USDT daily chart

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