Bitcoin, Ethereum, XRP Continue to Rise…Bullish Trend Persists Amid Middle East Uncertainty

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

Despite Middle East risks, Bitcoin, Ethereum, and XRP have simultaneously continued their rebound, with the market re-entering an 'upward test' phase.

According to investment media FXStreet on April 22 (local time), Bitcoin (BTC), Ethereum (ETH), and XRP (Ripple) are maintaining their upward momentum and continuing a short-term bullish trend despite uncertainties surrounding the second US-Iran ceasefire negotiations. Bitcoin surpassed $77,000, Ethereum is attempting to break through a major resistance level, and XRP has also recovered key moving averages.

Bitcoin is currently trading around $77,500, maintaining a strong upward trend above its 50-day exponential moving average (EMA) of $72,325 and 100-day EMA of $75,401. The Relative Strength Index (RSI) is at 64, indicating a continued buying dominance, and the Moving Average Convergence Divergence (MACD) also remains in positive territory, supporting the upward momentum. Short-term resistance is suggested at $78,962, psychological resistance at $80,000, and medium-term resistance at the 200-day moving average of $82,455.

Ethereum is trading around $2,360, having risen over 4% on a weekly basis. It is maintaining a stable trend above its 50-day EMA of $2,221, and whether it breaks through the 100-day EMA of $2,353 is considered a key variable for its short-term direction. The RSI is at 59, showing an upward trend without overheating, and the MACD also maintains positive signals. If it breaks above $2,380, further upside potential exists towards the $2,575 and $2,581 range.

XRP is trading around $1.44, notably having moved above its 50-day EMA of $1.41. The RSI is at 58, indicating room for further upside, and the MACD also maintains a positive trend, suggesting buying dominance. Short-term resistance is indicated at the 100-day moving average of $1.53, with additional resistance at the top of the descending channel at $1.64. Conversely, if it breaks below $1.41, there is potential for a correction down to $1.30.

Overall, the market is noting that major assets are maintaining key technical support levels and continuing their upward structure despite lingering geopolitical uncertainties. In the short term, whether key resistance levels are broken through is expected to be a turning point for further gains.

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