Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin breaks $64,000 level

Cryptos | 08/26/2024 04:05:18 GMT

Bitcoin price breaks above the consolidation zone between $57,000 and $62,000, with an impending rally ahead.

Ethereum price approaches the $2,900 resistance barrier; breaking above signals a bullish move ahead.

Ripple price achieving a breakout above the $0.626 resistance level could suggest a positive trend.

Bitcoin (BTC) price broke out of the consolidation zone between $57,000 and $62,000, showing that a rally is imminent. Ethereum (ETH) is moving close to the $2,900 resistance level, which, if crossed, indicates a bullish move. Ripple (XRP) breakthrough over the $0.626 barrier level may portend an uptrend.

Bitcoin price shows potential for a rally as it breaks above key resistance

Bitcoin price broke above its resistance level, the 200-day Exponential Moving Average (EMA) at $62,280 and its 61.8% Fibonacci retracement level (drawn from the high on July 29 to the low on August 5) at $62,042 on Friday. At the time of writing on Monday, it is slightly down 0.2% at $64,144.

If the 200-day EMA at $62,280 holds as support and BTC closes above the $65,596 level, it could rally  7% to restest its July 29 high of $70,079.

This bounce is supported by indicators like the Relative Strength Index (RSI) and Awesome Oscillator (AO) on the daily chart, comfortably above their respective mean levels of 50 and zero. These momentum indicators strongly indicate bullish dominance.