Bitcoin, Ethereum, XRP's Rally Halted... Where is the Next Breakthrough Price?

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

Bitcoin (BTC), Ethereum (ETH), and XRP (Ripple) have all entered a consolidation phase near their recent highs. While all three assets maintain a mid-term upward structure above key moving averages, the weakening Moving Average Convergence Divergence (MACD) indicates a slowdown in short-term upward momentum.

According to investment media FXStreet on September 30 (local time), Bitcoin traded around $83,368 on Wednesday, failing to close above the key resistance level of $85,000 this week. However, the price remains above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMA), maintaining a short-term bullish structure. The Relative Strength Index (RSI) at 59 showed positive momentum without being overbought, but the MACD remained slightly in negative territory, suggesting a slowdown in upward pressure. A break above $85,000 would open the possibility for further gains, while on the downside, the 50-day EMA at $77,797 is the first support level, followed by $74,300-$74,400, $66,500, and $62,300 as support zones.

Ethereum is showing signs of buyer fatigue as it consolidates recent gains around $2,674. The price remains above the 50-day EMA at $2,446, the 100-day EMA at $2,282, and the 200-day EMA at $2,267, maintaining an overall upward structure. The RSI at 61 has not reached overbought levels, but the MACD moving further below the 0-line suggests weakening short-term upward conviction. On the downside, $2,500 is the first support, followed by $2,446 and the $2,282-$2,267 range as defense lines. Conversely, a decisive daily close above the psychological resistance of $3,000 could extend the existing uptrend.

XRP traded around $1.499 on Wednesday, halting its upward rally and moving sideways after four consecutive days of decline since last week. Despite the correction, the price remains above the 50-day EMA at $1.371, the 200-day EMA at $1.370, and the 100-day EMA at $1.311, meaning the upward structure itself has not been broken. The RSI at 56 remains in positive territory, and while the MACD has flattened just below the 0-line, indicating weakening bullish momentum, it is not yet at a stage to confirm a trend reversal.

If XRP falls further, the area around $1.370, where the 50-day and 200-day EMAs converge, is the first key support level. If this level breaks, the 100-day EMA at $1.311 and the horizontal support at $1.300 are presented as the next defense lines, and in a larger correction, the support level could drop to $1.000. Conversely, if an uptrend resumes, the key resistance is $1.900; a sustained break above this price is necessary for the existing uptrend to continue further.

FXStreet analyzed that while momentum for Bitcoin, Ethereum, and XRP has somewhat weakened after recent rallies, the overall bullish structure is maintained as they are all trading above key EMAs. In the short term, $85,000 for Bitcoin, $3,000 for Ethereum, and $1.900 for XRP are identified as key resistance levels to confirm a resumption of the uptrend. However, with the MACD weakening for all three assets, it is important to note the possibility of continued consolidation near recent highs until a breakthrough of major resistance levels is confirmed.

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