Bitcoin (BTC) continues to maintain a green color, trading above the 111,000 USD mark on Friday morning, after recovering nearly 3% over the past week. Meanwhile, Ethereum (ETH) is still fluctuating in an important accumulation zone, while Ripple (XRP) has found support at a strategic support level. The trio of leading cryptocurrencies in the market is in a consolidation state, as traders choose to exercise caution ahead of a series of macroeconomic data from America to be released on the same day – a factor that could directly influence the monetary policy direction of the Federal Reserve (Fed), thereby maintaining a cautious sentiment in the crypto market.
Bitcoin signals early strength as momentum indicators improve
Bitcoin started the new week in the green, rising 3.20% from Monday to Wednesday and closing above the 100-day EMA ( at 110,748 USD. Despite experiencing a correction on Thursday, the cryptocurrency quickly found support around the 100-day EMA. By Friday morning, the recovery momentum continued, allowing BTC to trade steadily above the 111,000 USD mark.
![])https://img-cdn.gateio.im/webp-social/moments-3de29ac70d7736ce71fa3b8c6d193a62.webp(BTC/USDT daily chart | Source: TradingViewIf this trend continues, Bitcoin has the potential to approach the important resistance zone around 116,000 USD.
The Relative Strength Index )RSI( on the daily chart is currently at 46 and is moving towards the neutral threshold of 50, indicating that selling pressure is gradually decreasing. At the same time, the bullish crossover signal on the MACD during Friday's session also reflects improving momentum, reinforcing a positive outlook.
On the contrary, if the recovery momentum weakens, BTC may face the risk of a correction towards the support zone around 105,573 USD.
Ethereum Accumulation, reflecting the hesitation of traders
Ethereum )ETH( has fluctuated within the range of 4,232 – 4,488 USD since last week, indicating the hesitant sentiment of investors. As of Friday morning, the price of ETH is hovering close to the important support level of 4,232 USD.
If this cryptocurrency maintains the support zone of 4,232 USD and breaks out to close above 4,488 USD on the daily chart, the uptrend may be reinforced, opening up opportunities to approach the historical peak of 4,956 USD.
![])https://img-cdn.gateio.im/webp-social/moments-21e4b51eb9d2a61b099a31282d0f22e6.webp(Daily ETH/USDT chart | Source: TradingViewMeanwhile, the RSI index on the daily frame is hovering around the neutral level of 50, clearly reflecting the indecisive state of the market.
Conversely, a negative scenario will occur if ETH loses the threshold of 4,232 USD and closes below this mark, at which point selling pressure could pull the price back to the 50-day EMA at 4,050 USD.
XRP found support at the 2.72 USD zone on Monday, before jumping 3.74% the following day. However, the bullish momentum was quickly halted when the price hit resistance on Wednesday, then slightly retreated in the next session to test the 100-day EMA at 2.77 USD. By Friday morning, this cryptocurrency had a slight recovery, fluctuating around the 2.80 USD mark.
If the 100-day EMA at 2.77 USD continues to hold, XRP has the potential to extend its recovery wave, with the nearest target being the 61.8% Fibonacci retracement level at 2.99 USD.
![])https://img-cdn.gateio.im/webp-social/moments-ec271fc1529c9bec5a539fe95a1bdb0d.webp(XRP/USDT Daily Chart | Source: TradingViewTechnical developments also show positive signals: the RSI index is currently at 43 and is gradually heading towards the neutral zone of 50, reflecting weakening selling pressure. For the bullish trend to be clearly confirmed, the RSI needs to surpass the 50 mark.
On the contrary, if the closing price falls below 2.77 USD, XRP is likely to continue facing adjustment pressure, returning to the key support zone of 2.72 USD.
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Predictions for the prices of the top 3 cryptocurrencies: BTC, ETH, and XRP remain stable as traders focus on macroeconomic data.
Bitcoin (BTC) continues to maintain a green color, trading above the 111,000 USD mark on Friday morning, after recovering nearly 3% over the past week. Meanwhile, Ethereum (ETH) is still fluctuating in an important accumulation zone, while Ripple (XRP) has found support at a strategic support level. The trio of leading cryptocurrencies in the market is in a consolidation state, as traders choose to exercise caution ahead of a series of macroeconomic data from America to be released on the same day – a factor that could directly influence the monetary policy direction of the Federal Reserve (Fed), thereby maintaining a cautious sentiment in the crypto market.
Bitcoin signals early strength as momentum indicators improve
Bitcoin started the new week in the green, rising 3.20% from Monday to Wednesday and closing above the 100-day EMA ( at 110,748 USD. Despite experiencing a correction on Thursday, the cryptocurrency quickly found support around the 100-day EMA. By Friday morning, the recovery momentum continued, allowing BTC to trade steadily above the 111,000 USD mark.
![])https://img-cdn.gateio.im/webp-social/moments-3de29ac70d7736ce71fa3b8c6d193a62.webp(BTC/USDT daily chart | Source: TradingViewIf this trend continues, Bitcoin has the potential to approach the important resistance zone around 116,000 USD.
The Relative Strength Index )RSI( on the daily chart is currently at 46 and is moving towards the neutral threshold of 50, indicating that selling pressure is gradually decreasing. At the same time, the bullish crossover signal on the MACD during Friday's session also reflects improving momentum, reinforcing a positive outlook.
On the contrary, if the recovery momentum weakens, BTC may face the risk of a correction towards the support zone around 105,573 USD.
Ethereum Accumulation, reflecting the hesitation of traders
Ethereum )ETH( has fluctuated within the range of 4,232 – 4,488 USD since last week, indicating the hesitant sentiment of investors. As of Friday morning, the price of ETH is hovering close to the important support level of 4,232 USD.
If this cryptocurrency maintains the support zone of 4,232 USD and breaks out to close above 4,488 USD on the daily chart, the uptrend may be reinforced, opening up opportunities to approach the historical peak of 4,956 USD.
![])https://img-cdn.gateio.im/webp-social/moments-21e4b51eb9d2a61b099a31282d0f22e6.webp(Daily ETH/USDT chart | Source: TradingViewMeanwhile, the RSI index on the daily frame is hovering around the neutral level of 50, clearly reflecting the indecisive state of the market.
Conversely, a negative scenario will occur if ETH loses the threshold of 4,232 USD and closes below this mark, at which point selling pressure could pull the price back to the 50-day EMA at 4,050 USD.
XRP technical signals indicate weakening sell pressure
XRP found support at the 2.72 USD zone on Monday, before jumping 3.74% the following day. However, the bullish momentum was quickly halted when the price hit resistance on Wednesday, then slightly retreated in the next session to test the 100-day EMA at 2.77 USD. By Friday morning, this cryptocurrency had a slight recovery, fluctuating around the 2.80 USD mark.
If the 100-day EMA at 2.77 USD continues to hold, XRP has the potential to extend its recovery wave, with the nearest target being the 61.8% Fibonacci retracement level at 2.99 USD.
![])https://img-cdn.gateio.im/webp-social/moments-ec271fc1529c9bec5a539fe95a1bdb0d.webp(XRP/USDT Daily Chart | Source: TradingViewTechnical developments also show positive signals: the RSI index is currently at 43 and is gradually heading towards the neutral zone of 50, reflecting weakening selling pressure. For the bullish trend to be clearly confirmed, the RSI needs to surpass the 50 mark.
On the contrary, if the closing price falls below 2.77 USD, XRP is likely to continue facing adjustment pressure, returning to the key support zone of 2.72 USD.
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