Bitcoin's price hovered above $97,700 on Monday after hitting a new all-time high of $99,588 on Friday.
Ethereum's price is nearing its weekly resistance of $3,454; a close above this level indicates further gains.
Ripple price finds support around the $1.40 level, suggesting a rally continuation.
Bitcoin (BTC) remains strong above $97,700 after reaching a record high of $99,588. At the same time, Ethereum (ETH) edges closer to breaking its weekly resistance, signaling potential gains. Ripple (XRP) holds steady at a critical support level, hinting at continued upward momentum.
Bitcoin bulls remain strong
Bitcoin price remains stable around the $97,000 level on Monday and is currently training above $97,600 after rallying more than 9% in the previous week. If BTC continues its upward momentum, it could extend the rally to retest the significant psychological level of $100,000.
However, the Relative Strength Index (RSI) momentum indicator stands at 77, signaling overbought conditions and suggesting an increasing risk of a correction. Traders should exercise caution when adding to their long positions, as the RSI’s move out of the overbought territory could provide a clear sign of a pullback.
BTC/USDT daily chart
If Bitcoin faces a pullback, it could decline to retest its key psychological level of $90,000.
Ethereum price is set for a rally if it closes above $3,454 level
Ethereum's price found support around the $3,000 level and rallied 9.27% last week. As of Monday, it trades around $3,336, approaching its weekly resistance at $3,454.
If ETH breaks and closes above $3,454, it could extend the rally by 16% to its psychologically important $4,000 level.
The RSI on the daily chart reads at 65, above its neutral level of 50, indicating that bullish momentum is gaining traction.
ETH/USDT daily chart
Conversely, if ETH fails to close above the $3,454 weekly resistance and closes below $3,330, it could face a pullback to retest its $3,000 support level.
Ripple price is poised for a rally as weekly support remains strong
Ripple price found support around the $1.40 weekly level on Monday and traded slightly above it, around $1.45, after rallying over 36% the previous week.
If the $1.40 weekly support holds, XRP could extend the rally to retest its three-year high of $1.96 (April 2021).
However, the RSI stands at 86, signaling overbought conditions and suggesting an increasing risk of a correction. Traders should exercise caution when adding to their long positions, as the RSI’s move out of the overbought territory could provide a clear sign of a pullback.
XRP/USDT daily chart
However, if XRP faces a pullback, it could decline to retest its key psychological level of $1.00.
