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

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

An analysis suggests that Bitcoin (BTC), Ethereum (ETH), and XRP are maintaining a short-term bullish structure, continuing their upward trend despite uncertainties in peace talks between the United States and Iran.

According to FXStreet, a specialized foreign exchange media outlet, Bitcoin is trading above $77,000, having risen by 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 maintaining around 64, and the Moving Average Convergence Divergence (MACD) is staying in positive territory, indicating buying dominance. However, the 200-day EMA level of $82,455 is suggested to potentially 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 if this level is broken on a closing basis, further upside potential could open up.

XRP closed above the 50-day EMA of $1.41, breaking a technically significant resistance. This trend is interpreted as a signal of potential short-term upward continuation.

Geopolitical variables are also influencing the overall market. While investor sentiment has not fully stabilized due to ongoing uncertainties surrounding the second round of peace talks 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 be determined by whether key resistances are broken.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*