Technical tipping point: Can Bitcoin, Ethereum, and Ripple break through key levels to trigger a rebound?

Market Key Moment: Three Major Cryptocurrencies Approaching Breakout Points

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) have recently shown clear trading signals on the technical front. As of the beginning of this week, these three mainstream crypto assets are approaching decisive price levels, with market participants focusing on whether they can sustain upward momentum. Whether they can close firmly above key resistance levels will directly determine the strength and sustainability of the subsequent rebound.

Can BTC Break Through the Downtrend Line and Initiate a New Uptrend?

Bitcoin has demonstrated resilience in recent technical movements. After experiencing a pullback on Thursday and finding buying support at the critical support level of $85,869 (corresponding to the 78.60% Fibonacci retracement level), BTC rebounded by 3.67% over the following three trading days. According to the latest data, Bitcoin is now trading at $91.25K, with a 24-hour increase of 1.42%.

The key focus now is whether BTC can effectively break above the downtrend line since October 6. If this trend line is successfully broken and BTC closes above $90,000, the next target will be the resistance at $94,253.

From a technical indicator perspective, the Relative Strength Index (RSI) is currently at 45, approaching the neutral level of 50, indicating that bearish momentum is gradually waning. More positive signals come from the Moving Average Convergence Divergence (MACD), which showed a bullish crossover on Saturday, further strengthening the credibility of the rebound. However, if BTC fails to hold above the resistance, it may retest the support at $85,569.

Can Ethereum Break Through the $3,017 Level for Further Gains?

Ethereum has also shown similar technical patterns recently. After finding support near the downtrend line on Thursday, ETH rebounded nearly 6%, approaching the key daily resistance at $3,017 earlier this week. Currently, ETH is trading at $3.14K, with a 24-hour increase of 1.17%.

From the perspective of ETH-to-USD price, the $3,017 resistance level is crucial. If ETH closes above this level on the daily chart, the technical outlook will open up to further gains, with the next target being the high of $3,447 reached on December 10.

The RSI is at 47, also close to the neutral level, indicating that bearish forces are diminishing. More importantly, the MACD line is showing convergence, and once a bullish crossover occurs, it will add strong technical support to the bullish outlook. If ETH faces selling pressure, the next support level is at $2,749.

XRP Consolidating at Wedge Bottom, Break of $1.96 Will Confirm Momentum Shift

Ripple (XRP) exhibits a unique technical pattern. After finding support at the lower boundary of a descending wedge pattern on Friday, XRP experienced a slight rebound. This week, XRP is pushing toward the daily resistance at $1.96, with the current price at $2.10, a 4.68% increase in 24 hours, indicating relatively strong buying pressure.

If XRP can hold above $1.96 on the daily chart, it will confirm bullish momentum, with the next target set at the 50-day Exponential Moving Average (EMA) at $2.13.

The RSI on the daily chart is at 42, still below the neutral level of 50, reflecting that bearish sentiment has not fully dissipated. However, the MACD showed a bullish crossover earlier this week, often signaling an early awakening of buying momentum. If XRP falls below $1.96, the price may retest Friday’s low of $1.77.

Rebound Is Imminent; Watch for Breakout Confirmation Signals

The three major cryptocurrencies are currently at critical technical junctures, with the choice between breakout and pullback imminent. For investors, the most important thing is to observe whether these assets can achieve effective daily closes above their respective resistance levels, which will serve as a key indicator of whether the subsequent rebound can continue. Additionally, close monitoring of technical indicators like RSI and MACD is essential to ensure the reliability of rebound signals.