"Surging Amid War Anxiety"...Bitcoin, Ethereum, XRP Rise Together, Where's the Next Target?

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

Analysis shows that Bitcoin (BTC), Ethereum (ETH), and XRP are maintaining a short-term bullish structure, continuing their upward trend despite uncertainty surrounding peace negotiations between the US and Iran.

According to FXStreet, a specialist forex media outlet, Bitcoin traded above $77,000, rising more than 4% this week. It is moving within an ascending parallel channel, maintaining a clear short-term bullish trend.

Technically, the price is holding above the 50-day exponential moving average (EMA) of $72,325 and the 100-day EMA of $75,401, indicating that the upward structure is being maintained. The recovery of the Fibonacci 38.2% retracement level at $74,487 as a support line was also analyzed as a factor supporting the upward trend.

Momentum indicators also support the bullish sentiment. The Relative Strength Index (RSI) is holding around 64, and the Moving Average Convergence Divergence (MACD) is also in positive territory, indicating buying dominance. However, the 200-day EMA at $82,455 is suggested to act as a medium-term resistance.

Ethereum has reached a critical juncture, approaching resistance near the 100-day EMA of $2,353. Analysis suggests that a breakout above this level on a closing basis could open up room for further gains.

XRP closed above its 50-day EMA of $1.41, breaking through a technically significant resistance. This trend was interpreted as a signal suggesting the possibility of continued short-term gains.

Geopolitical variables are also influencing the overall market. While investor sentiment has not fully stabilized due to ongoing uncertainty regarding the second round of peace negotiations between the US and Iran, major cryptocurrencies are maintaining their upward trend, reflecting a preference for risk assets.

Ultimately, Bitcoin, Ethereum, and XRP are maintaining their prices above key moving averages, continuing a short-term bullish structure. The extension of the upward trend could depend on whether they break through key resistance levels.

*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.*