Bitcoin price stabilizes around $95,000 on Wednesday; a breakout suggests gains toward $100,000.
Ethereum nears key resistance at $1,861; a decisive close above could pave the way for a bullish run.
XRP closes above $2.23 resistance, indicating an uptrend ahead.
Bitcoin (BTC) is stabilizing around $95,000 at the time of writing on Thursday, and a breakout suggests gains toward $100,000. Ethereum (ETH) and Ripple (XRP) followed BTC’s footsteps and hovered around their key levels. The technical outlook suggests a breakout of these coins above the key resistance level could pave the way for a bullish run, targeting $100,000 BTC, $2,000 ETH, and $3 XRP.
Bitcoin bulls could aim higher above $95,000
Bitcoin price broke above its 200-day Exponential Moving Average (EMA) at $85,000 early last week, rallying 11.14% until Friday. However, BTC failed to close above its March high of $95,000 and hovered around this level in the last four days. At the time of writing on Wednesday, it continues to stabilize around the $95,000 level.
If BTC breaks and closes above $95,000 on a daily basis, it could extend the rally to retest its next daily resistance at $97,000. A successful close above this level could extend additional gains to retest its psychological resistance at $100,000.
The Relative Strength Index (RSI) on the daily chart holds at 66, suggesting bullish momentum, and still has room for further gains before hitting overbought conditions.
However, if BTC fails to close above the $95,000 resistance level and faces a pullback, it could extend the decline to find support around the $90,000 psychological importance level.
Ethereum could rally toward $2,000 if it closes above key resistance
Ethereum price broke above the $1,700 resistance level on April 22 and rallied by 14.86% until Saturday. However, ETH retested the daily resistance level at $1,861 the next day and declined slightly. ETH has been consolidating around $1,740 for the past two days. At the time of writing on Wednesday, it continues to hover around $1,800.
If ETH breaks and closes above the daily resistance at $1,861, it could extend the rally to retest its psychological importance level at $2,000.
The RSI on the daily chart reads 55 above its neutral level of 50, indicating bullish momentum.
Conversely, if ETH declines and closes below $1,700, it could extend the losses to retest its next daily support at $1,449.
XRP finds support around its 50-day EMA
XRP price broke above the 50-day EMA level at $2.20 on Sunday and rallied by 4.77%, surpassing the daily resistance level at $2.23. However, it declined slightly on Tuesday. At the time of writing on Wednesday, it is retesting its support level at $2.20.
If the support level at $2.20 holds, XRP will extend the rally to retest its March 24 high of $2.50 before potentially reaching $3.00.
The RSI on the daily chart reads 55 above its neutral level of 50, indicating bullish momentum.
On the other hand, if XRP fails to find support around the $2.20 level, it could extend the decline to retest its next support level at $1.96.
