Bitcoin, Ethereum, XRP on the Rise... Rebound Expands on US-Iran Truce Extension

▲ Bitcoin (BTC), Ethereum (ETH), XRP/ChatGPT Generated Image ©

Bitcoin (BTC) has surpassed $78,000, extending its rebound, while expectations of easing tensions in the Middle East are stimulating upward momentum across the cryptocurrency market.

According to investment media FXStreet on April 22 (local time), major cryptocurrencies including Bitcoin, Ethereum (ETH), and XRP (Ripple) continued their upward trend as US President Donald Trump further extended the truce with Iran, raising expectations for continued negotiations.

Market sentiment is rapidly improving. The total cryptocurrency market capitalization increased by 1.8% over 24 hours to $2.7 trillion, and the Fear & Greed Index moved from the 'Extreme Fear' zone to the 'Fear' stage. The recovery in investor sentiment is increasing the likelihood of expanded risk asset preference and fueling expectations for further rebounds.

Bitcoin is currently trading around $78,145, maintaining an upward structure above its 50-day moving average of $72,351 and its 100-day moving average of $75,379. The Relative Strength Index (RSI) is at 65, indicating an upward trend just before overheating, and the Moving Average Convergence Divergence (MACD) also remains in positive territory, suggesting a bullish bias. However, the psychological resistance level of $80,000 and the 200-day moving average of $82,574 are identified as key resistance zones for short-term gains.

Ethereum is trading around $2,387, maintaining above its 50-day moving average of $2,223 and its 100-day moving average of $2,355, continuing its short-term upward trend. The RSI is around 60, and the MACD shows a moderate upward trend, leaving room for further gains. Short-term resistance is set at $2,465, with medium-term resistance at the 200-day moving average of $2,646.

XRP is maintaining an upward trend, staying above its 50-day moving average of $1.41 at around $1.45, but the 100-day moving average of $1.54 and the 200-day moving average of $1.78 are still capping its upside. An RSI of 59 and positive MACD suggest increasing buying pressure, but a break below the $1.41 support level could open up possibilities for a correction.

*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.*