Bitcoin, Ethereum, XRP Take a Breather Together! Major Support Lines Still Held

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

Bitcoin (BTC), Ethereum (ETH), and XRP (Ripple) have entered a period of consolidation after last week's rally. However, all three assets are trading above their major moving averages, maintaining a short-term bullish structure, with Bitcoin at $85,000, Ethereum at $3,000, and XRP at $1.900 presented as key resistance levels for the next upward move.

According to investment media FXStreet on September 28 (local time), Bitcoin received a slight correction to $83,566 after rising over 4% last week. The price is still significantly above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMA) clustered between $73,900 and $77,300. The Relative Strength Index (RSI) remained in bullish territory at 61, without entering the overbought zone, and the Moving Average Convergence Divergence (MACD) also maintained a slight positive reading despite a slowdown in upward momentum.

Bitcoin's short-term resistance is $85,000. In case of further correction, the 50-day EMA at $77,323 is considered a major support level, followed by the 100-day EMA at $73,931 and the 200-day EMA at $74,253 forming a support zone. If the correction deepens, the existing horizontal support levels of $66,500 and $62,300 are presented as the next lower price ranges.

Ethereum is trading below $2,700 at $2,652 but maintains a short-term bullish structure by staying above the 50-day, 100-day, and 200-day EMAs, which are located around $2,260-$2,430. The RSI shows a positive trend at 59, while the MACD has turned slightly negative, indicating weakened short-term upward momentum. On the downside, $2,500 and the 50-day EMA at $2,425 are the primary support levels, and in case of further decline, $2,265 and $2,259 are presented as the next support zone. If it rebounds, breaking the psychological resistance of $3,000 will be key to resuming the mid-term uptrend.

XRP is consolidating around $1.500 after rising over 7.5% last week. The price is above the 50-day EMA at $1.361 and the 200-day EMA at $1.368, and the 100-day EMA at $1.304 is also acting as a mid-term support. The RSI is 57, and the MACD remains positive, indicating that buying pressure maintains an advantage despite recent consolidation. In the short term, $1.500 is a key support level, and if it breaks, $1.360-$1.370 and $1.300-$1.304 are considered the next support zones.

FXStreet assessed the recent movements of the three assets as a gradual correction or consolidation following last week's rally. Whether Bitcoin surpasses $85,000, Ethereum breaks $3,000, or XRP overcomes the $1.900 resistance to extend its upward trend again, these are presented as key price levels that will determine the future direction.

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