Cryptocurrency markets begin the week on a cautiously optimistic note, with Bitcoin (BTC) approaching a crucial resistance zone, while Ethereum (ETH) and Ripple (XRP) hold steady after bouncing from key support levels. Investors are closely monitoring the charts for a potential bullish breakout in BTC, which could ignite broader market momentum.
Bitcoin is currently trading around $84,000, inching closer to the $85,000 resistance, a level that aligns with both the 200-day EMA and a significant trendline.
📈 If BTC breaks and closes above $85,000, it could ignite a rally toward:
🔻 Downside Risk: A rejection at $85,000 could push BTC back down to $73,072, the next major support zone.
💡 RSI Insight: The Relative Strength Index (RSI) is hovering around 50, indicating a neutral sentiment. A breakout above this level would confirm renewed bullish strength.
Ethereum trades near $1,638, recovering from last week’s low of $1,449, but facing stiff resistance at $1,700.
📈 If ETH clears $1,700, potential targets include:
🔻 Bearish Scenario: A drop below $1,449 could lead to a deeper correction towards $1,300.
💡 RSI Watch: RSI at 42 is climbing towards 50, suggesting waning bearish momentum. A cross above 50 could drive stronger bullish action.
XRP has stabilized at around $2.14, having reclaimed its 200-day EMA ($1.95) and briefly touching $2.23 over the weekend.
📈 Bullish Target: If XRP breaks above $2.23, the next key resistance lies at:
🔻 Support Zone: Strong support is found at $1.95, the 200-day EMA.
💡 RSI Momentum: Currently at 50 and trending upward — a move above 50 could provide the fuel needed for a bullish continuation.
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