Bitcoin (BTC) and Ethereum (ETH) show signs of strength as bulls defend key support on Monday after gaining 2% and 1.3% in the previous week. Meanwhile, Ripple (XRP) recovers mildly at the start of the week on Monday after sliding over 5% last week.
Bitcoin bulls defend 50-day EMA
Bitcoin price trades at $64,973 on Monday, holding above the 50-day Exponential Moving Average (EMA) at $64,693 but still capped by the 100-day EMA at $66,870 and the distant 200-day EMA at $72,245. This configuration suggests a neutral to mildly constructive near-term tone, with price supported by the short-term trend while the broader structure remains below key medium- and long-term averages.
The Relative Strength Index (RSI) around 54 reinforces a balanced bias with a slight bullish tilt. At the same time, the Moving Average Convergence Divergence (MACD) stays in positive territory, hinting that buying pressure is gradually rebuilding rather than surging.
On the topside, initial resistance emerges at the 100-day EMA near $66,870, followed by the 200-day EMA at $72,245, before a major horizontal barrier looms far higher at $84,410.
On the downside, immediate support is at the 50-day EMA around $64,693, with a more significant structural floor at $64,004; a daily close below this latter area would weaken the current tentative bullish bias and expose a deeper corrective phase.
Ethereum could extend gains if it closes above the 100-day EMA
Ethereum price trades at $1,918, holding a mild constructive bias as it hovers above the 50-day EMA at roughly $1,864 while still capped by the 100-day EMA near $1,924. The price stance above this short-term EMA suggests underlying dip demand, while the longer-term 200-day EMA around $2,124 and a horizontal barrier at $2,000 remain untested overhead.
The RSI around 56 hints at steady but not overextended bullish momentum, and the MACD line, still slightly negative but improving, suggests that bearish pressure is fading rather than dominating.
On the topside, immediate resistance appears at the 100-day EMA near $1,924, followed by the psychological and chart-defined barrier at $2,000, with the 200-day EMA further up around $2,124 acting as a broader trend cap.
On the downside, initial support is seen around the current pivot area near $1,918, with the 50-day EMA providing a firmer floor around $1,864; a deeper setback would expose the more distant horizontal support at $1,385, where longer-term buyers could reemerge.
XRP rebounds from correction
XRP price trades at $1.03 on Monday, rebounding slightly after correcting over 5% in the previous week. However, XRP is keeping a bearish near-term tone as it holds below the 50-day EMA at $1.10, the 100-day EMA at $1.18, and the 200-day EMA at $1.37.
The RSI around 39 and a negative MACD reading both hint that downside pressure persists, with rallies likely to face selling interest into the overhead EMA band.
On the downside, the first notable support emerges at the psychological and horizontal area near $1.00, where buyers may attempt to slow the decline.
On the topside, initial resistance is now seen at the 50-day EMA around $1.10, followed by the 100-day EMA at $1.18 and the horizontal barrier at $1.30. At the same time, a more substantial cap is reinforced by the 200-day EMA at $1.37 ahead of the distant $1.90 resistance.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Be the first to comment