- If Bitcoin price closes above $105,000, analysts are predicting a potential upside to new all-time highs amid improving macro conditions.
- Ethereum broke a long-term downtrend and rallied 44% while XRP maintained gains above the $2.20 support level.
Today, the crypto market saw a mixed turnover with Bitcoin (BTC) clawing back most of its weekly gains. On the other hand, the Ethereum (ETH) and XRP prices were also carefully managed around key technical support levels.
Bitcoin Price Prediction Today
Bitcoin traded at $103,800 on Monday morning and reached a high of $105,747.45 following the 10% surge last week. Earlier, on Thursday, the Bitcoin price jumped to over $97,700 and the price rose 8.19%, up to $105,000 by the weekend. However, on Sunday, intensified selling pressure deterred Bitcoin from breaking through critical resistance levels.
There is an impression that some technical signals indicate diminished momentum, for the next short term, regarding growth. According to TradingView data, the RSI for Bitcoin is 74, exceeding the overbought level of 70. The RSI decline means the reduction in bullish sentiment strength. If the trend continues, Bitcoin may continue to decline and re-evaluate the critical psychological mark of $100,000.
However, new momentum through daily close above the $105,000 resistance to the upside may incite a new rally. Bitcoin can then retest its record-breaking high price of $109,588, as highlighted in the previous story.
Ethereum Price Crosses 200-day EMA Level
Recently, Ethereum price has shown incredible resilience. Breaking a downtrend line with successive lower highs since January, ETH price has increased 44%. Ether rallied above the 200-day EMA of $2,427 on Saturday.
The ETH price was close to $2,515 at the time of writing. The 200-day EMA is currently being used as an important protective barrier for ETH. A successful defense over this critical level of support may form the basis for ETH to bounce off and set off on a return back to the $3,000 mark, as reported by CNF.
The Ethereum RSI at the moment stands on 79, which is quite bullish, but also points towards an impending pullback. Even though this represents strong bullish momentum per se, it raises the probability of a short term correction. If ETH price tumbles lower than $2,431 because of increased selling, then the market may shift, thinking to set $2,000 as the dominant lower momentum target.
XRP Price Sustains Above 50-Day EMA
Following Tuesday’s breakout above the $2.20 50-day EMA, XRP price has rallied 16.69% since Thursday through Saturday. The XRP price was at $2.38 on Monday, and it remained above its crucial 50-day EMA level.
XRP’s RSI is about 60 with quite a clear distance from the neutral 50 mark, which points out a lot of buying interest. As long as buying activity remains in effect, XRP price stands a chance of recovering its March 24 high of $2.50, as mentioned in our last news piece.
Should XRP break and hold at higher levels, it might put the seeds for progression towards the important target at $3.00. But if demand flattens, XRP price can go back to its previous support level of $2.20 close to the 50-day EMA.
