💥💥💥 #bitcoin (BTC) to Test $70,000 Again This Week? $XRP Fights for #BullMarket Comeback, Did #Ethereum ($ETH ) Hit Plateau?
Bitcoin remains steadfast in the $68,000-$70,000 price range, showing signs of potential momentum for a breakthrough. Currently trading near $69,000, it has rebounded off the 26-day Exponential Moving Average (EMA). However, breaching the significant $69,400 resistance level is crucial for further upward movement, as failure to do so could result in a reversal towards $70,000 and below.
As Bitcoin aims to surpass the critical $70,000 mark, the BTC/USD chart reflects a bullish sentiment with recent resilience demonstrated by bouncing off the 26-day EMA. This rebound suggests buyer intervention, providing support above $68,000. Yet, the $69,400 resistance poses a challenge historically difficult to overcome, potentially leading to a reversal if not breached.
In the event of a correction, additional support may be found at the 50-day EMA and the 100-day EMA below the current price. With an uptick in trading volume, traders are showing increased interest, but sustained price movement requires continued volume support.
XRP's current state is uncertain; while suppressed, it shows signs of potential strength for a rebound. Yet, it remains below the 50-day EMA, a crucial barrier for a bounce contender. Higher trading volume is needed to sustain price movement and signal a successful recovery, with the RSI in a neutral zone offering limited insight.
Ethereum is struggling to break out of a narrow trading range between $3,750 and $3,850, showing signs of bullish exhaustion. Despite previous upward momentum, buyers are unable to push prices higher, and trading volume remains stagnant. If Ethereum fails to surpass $3,850, it may continue to consolidate or retreat.
While a volume spike could fuel a breakout, current low but steady volume indicates traders are waiting for market cues. Ethereum nears overbought territory, potentially limiting upside without a correction or consolidation.
Source - u.today
