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Bitcoin, Ethereum, Ripple: Riding the Wave of Positive Momentum
- The price of bitcoin is getting near to its crucial level of $100,000; a strong closing above that would indicate that the current advance will continue.
- The price of Ethereum indicates bullish momentum as it closes over its upper consolidation barrier of $3,522.
- If the price of ripples breaks above the upper symmetrical triangle limit, it may rise.
The price of Bitcoin (BTC) is getting close to $100,000, a crucial psychological threshold that would indicate the continuance of the current surge if it were to close firmly above. The price of Ethereum (ETH) indicates bullish momentum as it closes over its upper consolidation mark of $3,522. A breakout from the symmetrical triangle that the price of Ripple (XRP) is trading within on Monday could portend a surge.
The price of bitcoin indicates the possibility of a future rally.
From the low of $66,835 on November 4 to the high of $108,353 on December 17 at $92,493 on December 30, 2024, the price of bitcoin found support at the 38.2% Fibonacci retracement level. It then increased by 6% during the next six days. This level is crucial because it closely corresponds to the 50-day Exponential Moving Average (EMA) at $94,182. Bitcoin is currently trading at about $98,900 as of Monday.
Bitcoin may extend its climb to retest its crucial psychological significance threshold of $100,000 if it maintains its current momentum. If it closes above that level, it will continue to rise and retest its all-time high of $108,353 on December 17, 2024.
On the daily chart, the Relative Strength Index (RSI) is moving upward at 55, above its neutral value of 50, indicating that bullish momentum is gaining ground. On Sunday, the daily chart’s Moving Average Convergence Divergence (MACD) indicator also reversed a bullish crossover, indicating a buy signal and the continuation of an upward trend.
However, Bitcoin would continue to fall and retest its important support level at $90,000 if it closes below the $92,493 mark.
Ethereum closes above its consolidation zone, indicating that a rise is imminent.
The price of Ethereum rose 1.6% until Sunday after breaking and closing above its upper consolidation mark of $3,522 on Friday. It is still trading in the positive at about $3,667 as of Monday’s writing.
ETH would extend the rise to retest its psychological importance threshold of $4,000 if it keeps rising.
The daily chart’s RSI is trending upward at 57, above its neutral figure of 50, indicating that bullish momentum is gaining ground. Additionally, similar to Bitcoin, the MACD indicator indicated an upward trend on Friday by flipping a bullish crossover on the daily chart.
However, ETH would continue to fall to retest its next support level at $3,000 if it broke and closed below $3,236, which would prolong the slide.
If the price of ripple breaks above the symmetrical triangular pattern, it may rise.
The price of ripple is trading inside a symmetrical triangle, which is a technical pattern made up of two convergent trendlines joining several highs and lows (from early December to early January). The aim of this bullish technical pattern is often determined by calculating the separation between the breakout point and the first swing high and low. Ripple is trading at $2.40 on Monday, very close to the upper trendline of the triangle.
The technical target reached by this pattern would be $3.63 if the breakout occurs by completing a daily candlestick above the daily resistance level at $2.56. Investors should be wary of this speculative rise since traders may decide to book gains if it slows down following a 17% rally to retest Ripple’s psychological importance level of $3.00.
A rise in bullish momentum is indicated by the RSI indicator, which reads 58, above its neutral value of 50. On the daily chart, the MACD indicator is also above to flip a bullish crossover, indicating an impending upward trend.
FAQ
Bitcoin nearing the $100,000 mark represents a key psychological and technical milestone. A strong close above this level would indicate sustained bullish momentum and could pave the way for Bitcoin to retest its all-time high of $108,353.
Ethereum’s close above $3,522 signals that it has broken through a consolidation zone, suggesting potential for further upward movement. If it maintains this momentum, it could retest the $4,000 psychological threshold, supported by indicators like RSI and MACD pointing to bullish trends.
If Ripple’s price breaks above the symmetrical triangle pattern and closes above $2.56, it could lead to a significant rally. This breakout may target $3.63, with $3.00 being an important psychological milestone along the way
- RSI (Relative Strength Index): For all three cryptocurrencies, RSI values above 50 indicate growing bullish momentum.
- MACD (Moving Average Convergence Divergence): A bullish crossover in the MACD confirms the continuation of upward trends, providing buy signals across Bitcoin, Ethereum, and Ripple.
- Bitcoin: A close below $92,493 could lead to a decline toward its $90,000 support level.
- Ethereum: Breaking below $3,236 could result in a drop to $3,000.
- Ripple: Failure to break out of the symmetrical triangle pattern may keep prices subdued within the current range.
Bitcoin 
Ethereum 
Tether 
XRP 
BNB 
Solana 
USDC 
TRON 
Dogecoin 
Lido Staked Ether 
Cardano 
Avalanche 
Toncoin 
Shiba Inu 
Pepe