Bitcoin's consolidation phase continued on Monday as it held around $96,600 after rebounding from last week’s dip to $90,791. Despite a brief surge to $97,000, BTC faces resistance near its all-time high of $99,588. While the daily RSI remains above the neutral level at 65, indicating bullish momentum, traders should stay cautious. The bearish crossover of the MACD on November 26 suggests potential downward pressure. A correction could push BTC below the psychological support of $90,000.
Ethereum, on the other hand, broke through its weekly resistance of $3,454 and climbed to $3,691 by Monday. If ETH maintains momentum, it could test the $4,000 level, a critical psychological barrier. The daily RSI remains above 50, signaling continued bullishness, but a failure to hold $3,454 could lead to a drop toward $3,335.
Ripple (XRP) also remains in focus after hitting a three-year high of $2.35 last week, marking a 60% gain. On Monday, it rose further to $2.41. If the upward trend persists, XRP could retest $2.66. However, with an RSI of 93, it’s in overbought territory, increasing the likelihood of a correction. A retracement could see XRP revisiting support at $1.96.
Overall, while Bitcoin consolidates, the altcoin market shows signs of sustained bullish momentum, led by ETH and XRP. However, investors should remain vigilant as overbought conditions and bearish signals could indicate short-term corrections across the market.