#BTCPrediction Bitcoin price is retesting its key resistance level at $97,700; 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 below its 50-day EMA at $2.20, raising the risk of a further drop toward $1.96.

Bitcoin (BTC) price is nearing its key resistance level at $97,700 on Wednesday; a decisive close above this level suggests gains toward $100,000. Ethereum (ETH) and Ripple (XRP) prices recover and approach their key resistance levels; a breakout suggests a recovery ahead.

New Hampshire Governor Kelly Ayotte signed HB 302 into law on Tuesday, making the state the first in the US to establish a Strategic Bitcoin Reserve. The law allows the state treasurer to invest up to 5% of public funds in Bitcoin and other digital assets.

Bitcoin price was rejected from its daily resistance level of $97,000 on Friday and declined 2.89% over the next two days. However, at the start of this week, it recovered from its pullback and continued rising through Tuesday. At the time of writing on Wednesday, it is approaching its key resistance level at $97,700. The current price action has two possibilities. 

If BTC breaks and closes above its $97,700 level on a daily basis, it could extend the rally toward its psychological resistance at $100,000.

Another scenario is that if BTC faces resistance around $97,700, it could extend the decline to retest its next key support level at $90,000.

The Relative Strength Index (RSI) on the daily chart reads 64, above its neutral level of 50, indicating a bullish momentum and supporting the bullish case. However, the Moving Average Convergence Divergence (MACD) indicator on the daily chart coils against each other, suggesting indecisiveness among the traders.