Bitcoin Kicks Off Break Above $64,000...Ethereum and Ripple Also Face Key Resistance Tests

▲ Bitcoin (BTC), Ethereum (ETH), XRP/ChatGPT generated image ©

Bitcoin (BTC), Ethereum (ETH), and XRP (Ripple) have all rebounded amid expectations of easing geopolitical tensions, making the breakthrough of key resistance levels a critical juncture that will determine the short-term market direction.

According to investment media FXStreet on July 10 (local time), expectations of easing Middle East tensions spread after US President Donald Trump announced that Iran had contacted the US to discuss potential negotiations. As a result, investor sentiment improved, and Bitcoin rose to $63,800, Ethereum to $1,766, and XRP to $1.10, continuing their recovery.

Bitcoin is currently attempting to break the $64,000 resistance level. The Relative Strength Index (RSI) is above 50, and the Moving Average Convergence Divergence (MACD) also maintains a positive trend above the baseline, indicating improved upward momentum. However, the media analyzed that the short-term bearish trend is still valid, as the 50-day Exponential Moving Average (EMA) at $65,399, the 100-day EMA at $68,991, and the 200-day EMA at $75,024 are successively acting as resistance levels. Conversely, if upward momentum weakens, $60,000 is expected to act as a key psychological support level.

Ethereum has recovered to around $1,800, where the 50-day EMA is located. The RSI is at 54, indicating improved upward pressure, and the MACD also remains in positive territory. However, with the 100-day EMA at $1,956, $2,000 resistance, and the 200-day EMA at $2,236 remaining, further confirmation is needed to determine a trend reversal. On the other hand, if the $1,385 support level holds, there is a possibility of further rebound within a sideways trend for now.

XRP is maintaining its rebound by holding the $1.06 support level. However, the 50-day EMA at $1.17, the 100-day EMA at $1.27, and the $1.30 resistance level have been identified as obstacles to short-term upward movement. The RSI is at 46, still below neutral, but the MACD histogram showed a slight improvement, indicating easing downward pressure. The media predicts that if the $1.06 support level breaks, the existing downtrend could strengthen again.

FXStreet diagnosed that while all three assets are showing a rebound driven by improved investor sentiment, they are still trading below key exponential moving averages, making it difficult to conclude a full trend reversal yet. The ability of Bitcoin to break $64,000, Ethereum to settle above $1,800, and XRP to hold $1.06 support will be key variables for the short-term market.

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