BTC holds steady against the impact of 120,000, ETH defends support, XRP breaks the wedge targeting 3.4 USD

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are hovering near key technical levels after rising nearly 4%, 7%, and 6% respectively last week. BTC is holding below the resistance at $116,000, ETH is seeking support above $4,488, and XRP has completed a falling wedge breakout, signaling a bullish trend.

Bitcoin (BTC): Holding $116,000 is key

(Source: Trading View)

Current Price: 115,300 USD

Key resistance: $116,000

Target price: After the breakout, it is expected to hit 120,000 USD.

Support level: 50-day EMA (113,416 USD)

BTC has risen for two consecutive weeks, with a last week's increase of 3.72%. The daily RSI is at 56, above the neutral level of 50, and the MACD has continued to gain strength since the bullish crossover on September 6. If the daily closing price breaks through 116,000 USD, it will open up upward space to 120,000 USD; conversely, if it falls back, it may test the support at 113,416 USD.

Ethereum (ETH): Bulls Target Historical Highs

(Source: Trading View)

Current Price: 4,620 USD

Key support: $4,488

Target price: $4,956 (historical high)

Downside risk: breaking support or falling back to $4,232

ETH rose 5.68% after breaking through the consolidation zone of $4,488 last week, but subsequently retraced some of the gains over the following two days. The daily RSI is at 59, and the MACD showed a bullish crossover last Friday, indicating that bullish momentum remains. If it holds above $4,488, it is likely to challenge the historical high again.

Ripple (XRP): Breakthrough falling wedge, aiming for $3.40

(Source: Trading View)

Current Price: 3.03 USD

Key resistance: 3.40 USD

Support level: 50-day EMA ($2.94)

XRP broke through the falling wedge pattern that has formed since mid-July last Thursday, with technical indicators turning bullish. The RSI is above 50, and the MACD showed a bullish crossover last week and continues to run. If the upward momentum continues, it is expected to test the $3.40 resistance in the short term; if it retraces, $2.94 will be a key support level.

Conclusion

Currently, the three major coins are showing varying degrees of bullish strength:

BTC: A breakout above $116,000 will open the door to a surge towards $120,000.

ETH: Holding the support at $4,488 may pave the way to refresh the historical high.

XRP: Technical pattern turns bullish, target aimed directly at 3.40 USD

In the short term, market sentiment is leaning towards bullish, but traders still need to pay attention to the gains and losses of key support and resistance levels to prevent a market reversal.