Bitcoin (BTC) Tests Bullish Breakout...Ethereum (ETH) and XRP Undecided

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

Bitcoin (BTC) is testing a breakout above $64,654. Ethereum (ETH) and XRP have not found a clear direction.

According to crypto media outlet FXStreet on August 5 (local time), Bitcoin, Ethereum, and XRP showed mixed movements near key Exponential Moving Averages (EMA). Bitcoin approached short-term resistance, while Ethereum traded sideways. XRP showed signs of weakening downward pressure.

Bitcoin is attempting to break above the 50-day Exponential Moving Average (EMA) formed at $64,654. If the daily candle closes above this price, the next resistance levels are $67,080 and $72,650. The Relative Strength Index (RSI) was 52, failing to show strong directional momentum. The Moving Average Convergence Divergence (MACD) also remained in negative territory. If $64,004 breaks, selling pressure could increase.

Ethereum moved between the 50-day EMA at $1,852 and the 100-day EMA at $1,925. If $1,925 is broken, $2,000 and $2,134 will become resistance levels in turn. The RSI recorded 52, but the MACD did not exit negative territory. If the daily candle closes below $1,852, the support level will drop to $1,385.

XRP stabilized above $1.070, but the short-term bearish trend continued. The 50-day, 100-day, and 200-day EMAs were formed at $1.117, $1.198, and $1.388, respectively. The RSI was 45, below the neutral line of 50. The first support level is $1, and upon ascent, $1.117, $1.198, and $1.3 will act as resistance levels.

[Article Summary]

-For Bitcoin, breaking above the 50-day EMA at $64,654 is key for further upside.

-Ethereum is trading sideways between $1,852 and $1,925, searching for direction.

-XRP's downward pressure has weakened, but the $1 support and $1.117 resistance levels need to be confirmed.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*