Bitcoin price found support around the key psychological level of $80,000 last week, recovered slightly over the weekend, and has rebounded nearly 5% so far this week. At the time of writing on Friday, BTC hovers around $91,000.
If BTC continues its recovery, it could extend the rally toward the next key psychological level at $100,000.
The Relative Strength Index (RSI) on the daily chart is 40, pointing upward toward the neutral 50 level, indicating fading bearish momentum. Additionally, the Moving Average Convergence Divergence (MACD) showed a bullish crossover on Thursday, providing a buy signal and further supporting the potential continuation of the recovery.
On the other hand, if BTC faces a correction, it could extend the decline toward the key support at $85,000.
Ethereum price found support near the 61.8% Fibonacci retracement level at $2,749 on November 22 and recovered more than 8% in the next four days. At the time of writing on Friday, ETH approaches its key resistance level at $3,017.
If ETH closes above the daily resistance at $3,017, it could extend the rally toward the next psychological level at $3,500.
The RSI on the daily chart is 40, pointing upward toward the neutral 50 level, indicating fading bearish momentum. Additionally, the MACD showed a bullish crossover on Monday, which still holds and supports the potential continuation of the recovery.
On the other hand, if ETH declines, it could extend the drop toward the 61.8% Fibonacci retracement level at $2,749.
XRP price retested and found support around the lower trendline of the descending channel (drawn by connecting multiple highs and lows with two trendlines) on Saturday and recovered 14.19% by Monday. However, XRP has been consolidating around $2.20 mark for the last three days. At the time of writing on Friday, it hovers around the same level.
If XRP recovers, it could extend the rally toward the next daily resistance level at $2.35, which coincides with the 50-day EMA at $2.36.
Like Bitcoin and Ethereum, XRP’s RSI and MACD also support the recovery thesis.
On the other hand, if XRP corrects, it could extend the decline toward the daily support at $1.96.
