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Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are extending their rallies as bullish momentum strengthens and continue to cheer the US Treasury’s decision to double its debt buyback operations. BTC has climbed nearly 20%, ETH over 25% and XRP nearly 30% so far this week. With momentum indicators and key technical levels pointing to further upside, the focus now shifts to whether BTC can reach $80,000, ETH can reclaim $2,500, and XRP can advance toward $1.50.
BTC heading toward $80,000
Bitcoin price trades at $74,700 on Friday, extending its breakout above the major Exponential Moving Averages (EMAs) and keeping a clear bullish near-term bias. The 50-day, 100-day and 200-day EMAs at $65,286, $66,727 and $71,545 sit well below price, suggesting a firmly supported uptrend after the strong surge in volume accompanying the latest leg higher.
Momentum is stretched, with the Relative Strength Index (RSI) hovering in overbought territory near 83. At the same time, the Moving Average Convergence Divergence (MACD) remains strongly positive, suggesting bullish pressure persists but is increasingly vulnerable to corrective pauses.
On the topside, immediate resistance is located at the horizontal barrier near $80,000, where fresh supply could slow the rally and trigger consolidation.
On the downside, initial support is seen at the 200-day EMA around $71,545, while deeper pullbacks would likely find buyers near the 100-day EMA at $66,737 and the nearby horizontal level at $66,500; below that, the 50-day EMA at $65,286 and the structural floor at $62,300 emerge as secondary layers that would need to hold to preserve the broader bullish structure.
Ethereum bulls in control of momentum
Ethereum price trades at $2,354 on Friday, extending its advance well above the key EMAs, which reinforces a bullish near-term bias. The 50-day EMA, 100-day EMA and 200-day EMA clustered between roughly $1,920 and $2,130 sit comfortably below the market, highlighting a constructive trend structure, while price now approaches the horizontal barrier at $2,500.
Momentum is stretched, with the RSI around 85 in overbought territory and the MACD holding firmly in positive ground, suggesting strong but potentially overextended upside pressure.
On the topside, initial resistance is located at the psychological $2,500 level, followed by a higher horizontal cap at $3,000, where buying interest could start to fade.
On the downside, immediate demand is at the recent price area, with stronger support at the 200-day EMA at $2,128 ahead of the $2,000 level. At the same time, deeper corrective moves would target the 100-day EMA near $1,941 and the 50-day EMA around $1,920.
XRP surges nearly 30%
XRP price trades at $1.284 on Friday, up nearly 30% so far this week. XRP is retaining a constructive near-term tone as it holds above the 50-day and 100-day EMAs at $1.091 and $1.159, respectively, while still capped beneath the 200-day EMA at $1.344.
The RSI at 78 signals overbought conditions, and the MACD is in positive territory with a strong bullish profile, suggesting robust upside momentum but vulnerability to a corrective pullback if buyers lose conviction near overhead levels.
On the topside, immediate resistance sits at the horizontal barrier around $1.300, ahead of the 200-day EMA at $1.344, with a higher resistance zone near $1.900.
On the downside, initial support is located at the 100-day EMA at $1.159, followed by the 50-day EMA at $1.091, while a more distant structural floor sits at the horizontal support region near $1.000.
(The technical analysis of this story was written with the help of an AI tool.Know more.)
Cryptocurrency prices FAQs
Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platforms these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.
Manish Chhetri is a crypto specialist with over four years of experience in the cryptocurrency industry.
Source: www.fxstreet.com