As we dive into the new trading week, the three major cryptocurrencies—Bitcoin (BTC), Ethereum (ETH) and XRP—are showing renewed strength, sending encouraging signals for traders and investors alike. A recent technical-analysis article highlighted that all three coins have sustained upward momentum, with bullish indicators aligning across the board.
Bitcoin: Eyes on $120,000
Bitcoin found strong support near the 61.8 % Fibonacci retracement level—measured from its April low around $74,508 to the all-time high of ~$126,199—at ~$106,453. Following that, BTC rallied roughly 6.6% in four days and closed above its 50-day exponential moving average (EMA 50) at ~$113,397.
Currently trading near ~$114,975, Bitcoin is approaching a key resistance region around ~$115,137.
If it manages to close above that resistance level, the path toward the psychologically important $120,000 zone may open up. On the flip side, a failure to clear that level could prompt a pull-back toward EMA 50 support at ~$113,397.
From a technical standpoint, momentum indicators are improving—its Relative Strength Index (RSI) sits around 54, above neutral 50, signalling increasing bullish momentum. Meanwhile, a bullish MACD crossover occurred.
Takeaway: Bitcoin is in a favourable position but still needs confirmation via a close above the ~$115k resistance before a confident push to ~$120k.
Ethereum: Momentum Taking Hold
Ethereum’s performance has also been promising. The token gained nearly 5% last week and closed Sunday above the EMA 50 at ~$4,129. At the start of the new week it was trading near ~$4,206.
A breakout and close above the $4,232 resistance could open the door toward the next target at ~$4,488.
On the downside, if the market corrects, the 61.8 % Fibonacci retracement around ~$3,593 may serve as solid support.
Indicators such as RSI and MACD are likewise pointing toward strengthening upward momentum.
Takeaway: Ethereum is showing solid signs of upward motion, with clear resistance that, once cleared, may allow a meaningful run-up toward ~$4,488.
XRP: Gaining Ground, Eyeing ~$3.40
XRP stands out with its strongest weekly move among the trio—over 10% rise last week. It closed above a prior-broken downtrend line and above its EMA 200 (~$2.61) and is now approaching a key resistance near ~$2.69.
A firm break above ~$2.69 could validate further upside toward ~$3.40. On the other hand, if a correction occurs, support around ~$2.35 may act as a safety net.
Momentum signals for XRP are improving in line with Bitcoin and Ethereum—the RSI and MACD both indicate strengthening bullish sentiment.
Takeaway: XRP is perhaps the most exciting of the three at this juncture, given its breakout above key levels and the potential for a jump toward ~$3.40.
Market Sentiment & Outlook
The fact that all three major coins are aligning in bullish formations suggests broad improvement in market sentiment. The short-term trend appears supportive for new trades, but as always, crypto markets carry elevated risk and volatility.
Key areas to watch this week:
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For Bitcoin: closing above ~$115k to trigger next leg up
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For Ethereum: a clean breakout above ~$4,232
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For XRP: convincingly clearing ~$2.69 and holding above support ~2.35
Additionally, external factors like macroeconomic data, regulatory developments, and large-scale institutional accumulation might influence momentum in either direction.
Final Thoughts
In sum, the bullish signals from Bitcoin, Ethereum and XRP underscore a potential shift in market dynamics—one that may open up favorable trading conditions for the coming week. For traders, this is a moment to monitor closely: if key resistance levels are broken and sustained, the upside may be meaningful. If not, be prepared for potential pull-backs toward strong support zones.
Important reminder: this is informational only and not investment advice—the volatile nature of cryptocurrencies means careful risk management remains essential.
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