Bitcoin (BTC) hovered around $85,600 on Monday after a 4.25% rebound last week. Ethereum (ETH) and Ripple (XRP) followed suit, consolidating near their key levels with nearly 7% gains each.
Bitcoin Bulls Target the $90,000 Milestone
Bitcoin’s price broke above and closed above its 200-day Exponential Moving Average (EMA) last week—around $85,502—but failed to sustain support. It reclaimed the 200-day EMA again on Sunday. As of this writing, BTC trades at $85,600 on Monday.
If BTC finds support near its 200-day EMA, the recovery could extend toward the critical psychological level of $90,000.
The Relative Strength Index (RSI) on the daily chart reads 48, pointing upward toward the neutral 50 level, signaling weakening bearish momentum. The RSI must rise above 50 to confirm bullish continuation. The Moving Average Convergence Divergence (MACD) indicator flashed a bullish crossover last week, issuing a buy signal and hinting at a potential uptrend. Green histogram bars above the zero line also suggest strengthening upward momentum.
👉 Bitcoin's next breakout: Key levels to watch
However, if BTC fails to hold its 200-day EMA and closes below $85,000, the downtrend could resume, retesting the next support at $78,258.
Ethereum’s Recovery Hinges on the $1,861 Support
Ethereum’s price found support near the $1,861 daily level over the past two weeks, rebounding nearly 7% last week. As of Monday, ETH trades around $1,980.
If the $1,861 support holds, ETH could extend its recovery toward the March 7 high of $2,258.
The daily RSI (40) nears the neutral 50 level, indicating fading bearish pressure. A climb above 50 would bolster bullish momentum. The MACD’s recent bullish crossover and rising green bars further support upside potential.
👉 Ethereum's roadmap to $2,500
A breakdown below $1,861, however, could trigger a drop toward $1,700.
Ripple’s Recovery Hopes Rest on the 100-Day EMA
Ripple’s price broke above its 100-day EMA ($2.31) last week, gaining nearly 7%. Currently, XRP trades at $2.42.
Sustained holding above the 100-day EMA could propel XRP toward the next resistance at $2.72.
The RSI (51) near the neutral 50 level reflects trader indecision. A decisive move above 50 is needed to confirm bullish momentum. The MACD’s bullish crossover last week adds optimism.
Failure to hold the 100-day EMA might lead to a retest of $1.96.
FAQs: Bitcoin, Altcoins, and Stablecoins
What is Bitcoin?
Bitcoin is the largest cryptocurrency by market cap, designed as decentralized digital money. It eliminates third-party intermediaries in financial transactions.
What are altcoins?
Altcoins refer to any cryptocurrency other than Bitcoin. Ethereum is sometimes excluded from this category due to its unique ecosystem and forks.
What are stablecoins?
Stablecoins are cryptocurrencies pegged to stable assets (e.g., USD) to minimize volatility. They serve as entry/exit points for crypto traders.
What is Bitcoin dominance?
Bitcoin dominance measures BTC’s market cap relative to the total crypto market. High dominance often precedes bull markets, while declines may signal altcoin rallies.