Price Forecast for the Top 3 Cryptocurrencies: BTC Officially Breaks Out – Will ETH and XRP Follow Suit?

Bitcoin (BTC) has made a spectacular breakthrough through a key resistance level after several failures last week. Meanwhile, Ethereum (ETH) and Ripple (XRP) are also approaching critical resistance zones; if successfully surpassed, a rise to the sky trend may be triggered.

Bitcoin shows strength as it breaks the resistance level of $85,000

Since April 13, Bitcoin has repeatedly touched but failed to break through the (EMA) 200-day exponential moving average around the $85,000 mark. However, earlier this week, BTC successfully broke through this important resistance level and surged above $87,000.

BTC/USDT daily chart | Source: TradingViewIf the current recovery momentum is maintained, Bitcoin could aim for the psychological milestone of $90,000. A solid close above this level will open up opportunities to extend the bullish trend, with the next target being to retest the recent high on March 2 at $95,000.

The RSI indicator on the daily frame is currently at 57, reinforcing the bullish outlook as it is above the neutral threshold of 50, indicating that positive momentum is prevailing.

However, in the event that selling pressure increases again, the nearest support zone may appear around the zone $85,000.

Ethereum price could recover further if it closes above $1,700

Ethereum (ETH) faced strong selling pressure around the $1,700 level at the beginning of last week, but then slightly recovered over the weekend. As of the time of writing, ETH is trading around the $1,640 mark, nearing the important resistance zone of $1,700.

! btc-eth-xrpETH/USDT daily chart | Source: TradingView If the rally continues and ETH can close above this level, the uptrend could be consolidated, opening up the possibility of further testing of resistance on the daily timeframe at $1,861.

The RSI indicator on the daily chart is currently at 44 and is trending upwards, approaching the neutral threshold of 50 – a sign that selling pressure is weakening. However, to confirm a sustainable upward trend, the RSI needs to surpass the 50 level.

Conversely, if Ethereum reverses and adjusts, the price may continue to decline and test the important support zone on the daily chart at the $1,449 mark.

XRP could aim for $3 if it breaks through the resistance level of $2.23

XRP was rejected at the resistance zone $2.23 on the daily chart on April 13, recording a decrease of 3.75% over the past week. As of the time of writing on Monday, the price is fluctuating around the level of $2.11.

XRP/USDT daily chart | Source: TradingViewIf XRP can break through and maintain a close above the mark $2.23, the rise may be extended, bringing the price towards the target of retesting the peak on March 24 at $2.50, before expanding expectations to the important psychological mark $3.

The RSI indicator on the daily chart is currently at 49, approaching the neutral zone of 50, indicating that selling pressure is gradually weakening. Similarly to ETH, XRP needs a strong bounce to push the RSI above 50 to re-confirm the bullish momentum.

On the contrary, if the downward trend continues to dominate and the closing price is below the 200-day EMA, XRP may face a deeper correction, returning to test the important support zone at $1.77.

You can view the coin price here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do thorough research before making decisions. We are not responsible for your investment decisions

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