Bitcoin Approaches Historic Milestone
Bitcoin (BTC) traded at $108,500** on Monday, just **3% below** its all-time high of **$111,980 (reached May 22). Key observations:
Technical Indicators:
- RSI at 59 (bullish above 50)
- MACD shows bullish crossover (buy signal)
Potential Scenarios:
- Breakout above $111,980 could target **$120,000**
- Pullback may find support at 50-day EMA ($104,158)
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Ethereum Eyes Continued Upswing
Ethereum (ETH) closed above its critical resistance at $2,461, signaling bullish momentum. Current status:
Key Levels:
- Immediate resistance: $2,724
- Support zone: $2,429-$2,461
Market Signals:
- RSI 52 (improving momentum)
- MACD hinting at impending bullish crossover
Ripple (XRP) Nears Critical Juncture
XRP shows 9% weekly gain, testing resistance at $2.23:
Breakout Potential:
- Clearance above $2.23 may propel price to **$2.47** (May 23 high)
Risk Factors:
- Failure to hold $1.96 support could trigger deeper correction
Indicator Watch:
- RSI approaching neutral 50 (bearish pressure easing)
- MACD issued Friday's bullish crossover
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FAQ: Crypto Market Outlook
Q: What drives Bitcoin's current rally?
A: Institutional interest, ETF approvals, and halving effects combine with technical breakout momentum.
Q: How high could Ethereum go if $2,724 breaks?
A: Next targets would be $3,000 psychological level, then 2024 high of $3,300.
Q: Why is $2.23 crucial for XRP?
A: This level acted as pivot point in May-June 2024; breakout would confirm trend reversal.
Q: When might BTC hit $120,000?
A: Analysts suggest 2-6 week timeframe if current volatility persists.
Strategic Takeaways
- Bitcoin: Monitor $111,980 breakout for confirmation of extended bull run
- Ethereum: $2,461 now becomes critical support for uptrend continuation
- Ripple: $2.23 breakout volume will determine legitimacy of upward move
All analyses based on CoinMarketCap data and TradingView charts.
Note: CFD trading involves significant risk. Risk Disclosure