- Bitcoin’s price stabilizes at $95,000 on Wednesday; a breakout hints at potential gains towards $100,000.
- Ethereum approaches critical resistance at $1,861; a firm close above could trigger a bullish trend.
- XRP surpasses $2.23 resistance, signaling a possible upward trend.
Bitcoin (BTC) is currently stabilizing around $95,000 as of Wednesday. A breakout could lead to gains reaching $100,000. Ethereum (ETH) and Ripple (XRP) are also following BTC’s lead, staying near their significant levels. The technical outlook indicates that breaking above key resistance levels for these coins may initiate a bullish trend, aiming for $100,000 for BTC, $2,000 for ETH, and $3 for XRP.
Bitcoin Bulls Eye Higher Gains Above $95,000
Bitcoin breached its 200-day Exponential Moving Average (EMA) at $85,000 early last week, rising by 11.14% by Friday. However, BTC struggled to close above its March peak of $95,000 and has been hovering around this mark for the past four days. As of Wednesday, it continues to stabilize around $95,000.
A daily close above $95,000 could extend the rally to revisit the next resistance at $97,000, with further gains potentially reaching the psychological barrier of $100,000.
The Relative Strength Index (RSI) on the daily chart holds at 66, indicating bullish momentum with room for additional growth before entering overbought territory.
Ethereum Could Surge Towards $2,000 with Key Resistance Break
Ethereum’s price broke through the $1,700 resistance on April 22 and surged by 14.86% until Saturday. The following day, ETH tested the daily resistance at $1,861 and experienced a slight drop. It has been consolidating around $1,740 for the last two days and currently hovers near $1,800.
If ETH manages to break and close above the daily resistance at $1,861, it may propel the rally toward the psychologically significant level of $2,000.
XRP Holds Support Around Its 50-Day EMA
XRP’s price crossed above the 50-day EMA at $2.20 on Sunday, gaining 4.77% and surpassing the daily resistance at $2.23. It experienced a slight decline on Tuesday and is currently retesting the support level at $2.20.
If the support at $2.20 holds, XRP could continue its rally to revisit the March 24 high of $2.50, potentially targeting $3.00 next.
On the contrary, if XRP fails to maintain support around $2.20, it could see a decline to retest the next support level at $1.96.
