Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) all climbed on Monday after bouncing off key support zones last week. Technical indicators suggest the downtrend is losing steam, opening the door for further gains.
- Bitcoin Rebounds at $100,353 Support
- BTC found buying interest near its 50% Fibonacci retracement at $100,353 on November 4 and tested that level several times before jumping 2.36% on Sunday.
- As of Monday, Bitcoin trades around $105,900. A daily close above the 61.8% Fib level at $106,453 would likely propel it toward the 50-day exponential moving average (EMA) at $110,238.
- The Relative Strength Index (RSI) sits at 45 and is heading upward toward the neutral 50 line, while the MACD histogram is contracting below zero—both signs that bearish momentum is fading.
- If BTC reverses lower, the first support to watch remains $100,353.
- Ethereum Aims for 50-Day EMA
- ETH rebounded from the 50% retracement at $3,171 on November 5 and rallied nearly 5% into Sunday. It is now trading near $3,628.
- Breaking above the 50-day EMA at $3,907 would confirm further upside potential.
- Like Bitcoin, Ethereum’s RSI and MACD are flashing early signals of a weakening downtrend.
- A pullback would likely revisit $3,171.
- Ripple Clears Resistance at $2.35
- XRP fell below $2.35 on November 3 but held support around $1.96 and traded in a narrow range. On Sunday, it rallied over 3% and closed above $2.35. Currently, XRP sits near $2.46.
- The next upside target is the daily resistance level at $2.72.
- Ripple’s RSI and MACD also point to diminishing bearish pressure.
- If the rally stalls, support at $1.96 comes into play once more.
