The cryptocurrency market is on fire as Bitcoin pushes past $120,000, Ethereum sets its sights on the $4,000 mark, and Ripple’s XRP hits a fresh all-time high. With bullish sentiment dominating, investors are closely watching whether the rally has more fuel left in the tank.
📈 Bitcoin (BTC) Nears Historic Levels Above $120K
Bitcoin is showing strong upward momentum, currently trading above $120,000 as of Friday. This brings the flagship cryptocurrency within striking distance of its all-time high at $123,218.
- BTC dipped to $115,736 on Tuesday following its record high, but quickly recovered.
- A daily close above $120,000 would solidify bullish control and potentially trigger a breakout beyond the ATH.
- Technical indicators remain optimistic:
- RSI is holding strong at 71, indicating continued bullish momentum.
- MACD remains in bullish territory since late June, with green histogram bars strengthening.
👉 If Bitcoin maintains upward pressure, it could easily reclaim and surpass $123K. However, a downside correction might revisit support near $115,700.
🚀 Ethereum (ETH) Rally Gains Steam, $4,000 in Sight
Ethereum has skyrocketed by more than 20% this week, climbing past $3,500 and aiming for the psychological resistance of $4,000.
- ETH closed above $3,000 on Tuesday and gained another 10% on Thursday.
- It’s now trading near daily resistance at $3,730, with bulls showing no signs of slowing down.
- Key indicators:
- RSI is overheated at 85, but momentum remains strong.
- MACD continues to flash a bullish crossover since early July.
📍 A breakout above $3,730 could lead Ethereum straight toward $4,000. On the downside, $3,000 serves as a crucial support level in case of pullback.
🌊 Ripple (XRP) Hits Record High at $3.66, May Target $4.13
Ripple’s XRP is taking the spotlight after breaking past $3 for the first time and surging to an all-time high of $3.66.
- The token rallied 14.6% on Thursday, following a decisive close above $3.
- Technical outlook suggests further upside:
- Next key target is the 141.4% Fibonacci extension at $4.13, based on the move from $3.40 to $1.61.
- RSI is extremely overbought at 89, which may lead to a short-term cool-down.
- MACD remains bullish, suggesting continued upward pressure.
⚠️ While momentum is strong, traders should be cautious due to RSI levels suggesting the asset is overextended.
🔍 Summary: Bull Run Momentum Building
| Cryptocurrency | Current Price | Key Resistance | Support Level | Technical Outlook |
|---|---|---|---|---|
| Bitcoin | $120,000+ | $123,218 (ATH) | $115,736 | Bullish |
| Ethereum | $3,500+ | $4,000 | $3,000 | Bullish |
| Ripple (XRP) | $3.66 (ATH) | $4.13 | $3.00 | Overbought/Bullish |
With all three leading cryptocurrencies showing bullish structures, the market appears poised for another potential breakout — but traders should remain alert for volatility and profit-taking.
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