Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are approaching key technical levels at the time of writing on Monday, as the global crypto market begins to show signs of stabilizing. Investors are currently particularly focused on the possibility of BTC, ETH and XRP maintaining the upward momentum and establishing daily closing levels above important resistance zones — a signal that could raise expectations for the start of a short term recovery in the near future.
Bitcoin may recover if it closes above the important resistance zone
The price of Bitcoin has once again successfully tested the key support zone at the Fibonacci retracement level of 78.60%, corresponding to 85,869 USD, during Thursday's session. From here, BTC rebounded strongly, recording a recovery of 3.67% over three consecutive days. As of the beginning of the week, the price is approaching the downward trend line formed by connecting the key highs since October 6, indicating that the market is at a decisive moment.
In a positive scenario, if Bitcoin decisively breaks above the downtrend line and closes firmly above the psychological level of 90,000 USD, the recovery momentum is likely to be extended to the next resistance zone around 94,253 USD.
BTC/USDT daily chart | Source: TradingViewIn terms of momentum, the RSI indicator is currently fluctuating around the level of 45 and is trending upwards, approaching the neutral zone of 50 — an early signal that selling pressure is gradually weakening. To confirm a sustainable bullish trend, the RSI needs to exceed and maintain above this neutral threshold. At the same time, the MACD indicator has shown a bullish crossover since Saturday, further reinforcing the outlook for a short-term recovery.
On the contrary, if BTC cannot maintain its upward momentum and turns around for a correction, the price may face downward pressure again, heading towards the next important support zone around 85,569 USD.
Ethereum approaches the key resistance zone
The price of Ethereum underwent a retest on Thursday and quickly found support around the downtrend line, subsequently bouncing back nearly 6% over the next three days. As of Monday, ETH is approaching a key daily resistance zone at 3,017 USD, which may play a crucial role for the short term trend.
If ETH records a solid closing above the 3,017 USD mark on the daily timeframe, the recovery momentum is likely to be reinforced, opening up room for price increases towards the peak zone established on December 10 around 3,447 USD.
ETH/USDT daily chart | Source: TradingViewIn terms of momentum, the RSI indicator is currently at 47 and is gradually heading towards the neutral threshold of 50, reflecting weakening selling pressure. For the upward trend to be maintained sustainably, the RSI needs to clearly surpass this neutral mark. Additionally, the lines of the MACD indicator are getting closer; if a bullish crossover signal appears, this will be an important technical factor that continues to support ETH's positive scenario.
On the contrary, if ETH cannot conquer the aforementioned resistance zone and is rejected, the price is likely to reverse and adjust, retreating to re-test the notable support zone at 2,749 USD.
XRP could recover if it closes above the mark of 1.96 USD
XRP has revisited and held the support zone around the lower boundary of the falling wedge pattern ( on Friday, before recording a slight recovery the following day. As of Monday, XRP's price is gradually approaching the important resistance zone on the daily chart at the level of 1.96 USD.
In a positive scenario, if XRP can close firmly above the resistance level of 1.96 USD, the recovery momentum is likely to be extended, aiming towards the 50-day EMA at the zone of 2.13 USD.
![])https://img-cdn.gateio.im/webp-social/moments-c8947d759865fd81d690bed94504ddd9.webp(Daily XRP/USDT Chart | Source: TradingViewIn terms of momentum, the RSI indicator on the daily frame is currently at 42, remaining below the neutral threshold of 50, reflecting that the bearish pressure has not completely weakened. However, the MACD indicator has formed a bullish crossover on Monday, signaling an early indication of the possibility of improving bullish momentum in the short term.
On the contrary, if the adjustment force comes back, XRP may continue to retreat to test the nearest bottom zone established on Friday at the mark of 1.77 USD.
SN_Nour
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