Summary:
Bitcoin bounces off $62,000, targeting a rally towards $65,000.
Ethereum breaks above $2,461, indicating potential upward movement.
Ripple stabilizes above $0.544, hinting at continued upward momentum.
Bitcoin Gains Momentum, Targets $65,000 Threshold
Bitcoin (BTC) recently bounced off the key psychological level of $62,000, eyeing a potential rally ahead. After breaking above the ascending trendline and the 100-day Exponential Moving Average at $61,000 on September 18, BTC rose 3% in the following days and found support around $62,000. Currently, it trades above $63,800. If this support holds, BTC could retest its resistance level at $65,379.
BTC/USDT daily chart
The Moving Average Convergence Divergence (MACD) indicator supports Bitcoin’s rise, signaling a bullish crossover. The Relative Strength Index (RSI) shows Bitcoin is not yet overbought, trading at 63.
Ethereum Sets Stage for a Rally After Surpassing Resistance Barrier
Ethereum (ETH) broke above its daily resistance level at $2,461, trading at $2,681 as of Monday. If $2,461 holds as support, ETH could retest its high of $2,820. The MACD indicates a bullish trend, with the RSI at 61, suggesting upward momentum.
ETH/USDT daily chart
However, a close below $2,461 could lead to a decline towards $2,152.
Ripple Price Stabilizes Above Support, Hinting at Continuation of Upward Momentum
Ripple (XRP) has stabilized above its daily support level at $0.544 and is currently trading around $0.589. If this support holds, XRP could retest its resistance at $0.626. The MACD indicates a bullish crossover, and the RSI at 56 suggests increasing momentum.
XRP/USDT daily chart
However, a close below $0.544 could invalidate the bullish outlook, leading to a decline towards $0.502.
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