Key takeaways
- Bitcoin, Ethereum, and XRP started the week holding onto last week’s strong gains.
- Ethereum is approaching its 50-day EMA near $1,806, a key hurdle for extending its recovery.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) began the week on a constructive note after surging over 6%, 13% and 10% in the previous week.
BTC holds steady below $63,000, ETH approaches a key technical resistance at $1,800, while XRP has broken above the upper boundary of a falling channel, strengthening the bullish outlook.
Ethereum tests key resistance near the 50-Day EMA
Ethereum (ETH) is also extending last week’s recovery after climbing more than 13%, trading near $1,784 on Monday.
The cryptocurrency is approaching a significant technical hurdle at the 50-day EMA around $1,806, which currently serves as the first major resistance level.
Despite the recent rebound, Ethereum remains below the 100-day EMA near $1,972 and the 200-day EMA around $2,241, leaving the broader trend tilted to the downside.
However, technical momentum continues to strengthen. The RSI is hovering near 57, indicating healthy buying momentum, while the MACD remains firmly positive, suggesting bulls continue to regain control after recent weakness.
If ETH successfully breaks above the 50-day EMA, attention would shift toward resistance near $1,972, followed by the psychologically important $2,000 level and the 200-day EMA around $2,242.
On the downside, the strongest support remains near $1,385, where buyers previously stepped in to defend the market.
Bitcoin, Ethereum, and XRP have all entered the new week with improving momentum following strong performances last week.
While each asset faces important technical resistance, bullish indicators continue to strengthen.
A decisive move above $64,000 for Bitcoin, $1,806 for Ethereum, and continued strength above XRP’s channel breakout could reinforce the recovery across the broader cryptocurrency market and set the stage for further gains.
