Bitcoin settles at $79,000...Ethereum also expected to surge

▲ Bitcoin (BTC), Ethereum (ETH)

Bitcoin (BTC) is maintaining a bullish bias based on strong buying momentum. At the same time, Ethereum (ETH) and XRP are also breaking through key exponential moving averages, signaling a concomitant rise.

According to a report by the cryptocurrency media outlet FXStreet on April 27 (local time), Bitcoin is maintaining the $79,000 level, consolidating momentum for further gains. Bitcoin broke through major resistance and then formed a strong support level. With the continued dominance of buyers, the possibility of breaking $80,000 is higher than ever. The Relative Strength Index (RSI) proved its potential for further ascent by trending upwards without entering the overbought zone.

Ethereum successfully reversed its trend by breaking through a key technical indicator, the exponential moving average. It recently recaptured the $2,300 to $2,400 range, establishing a short-term bullish structure. The Moving Average Convergence Divergence (MACD) formed a golden cross, confirming a buy signal. With resistance thinning, a steep rally towards the $3,000 mark is expected.

XRP is maintaining a solid trend above the $1.40 support level, gathering energy. XRP is attempting to break through the top of its box range at $1.46. Technical analysis shows strong downside rigidity, effectively defending against downward pressure. If it decisively breaks above $1.46, it is expected to quickly reach its next target of $1.60.

As liquidity improves across the virtual asset market, large whales' accumulation activities have also become active. The continuous inflow of funds through Bitcoin spot ETFs has strengthened the market's fundamental health. News of regulatory easing and increased adoption by institutional finance are key factors stimulating investor sentiment. As the supply shock phase deepens, the price defense capabilities of major assets have strengthened.

The simultaneous bullish trend of Bitcoin and major altcoins reflects the qualitative growth of the market. Indicators and chart structures clearly point to the beginning of a long-term bull market. Increased trading volume and concentrated buying momentum enhance the reliability of price increases. The virtual asset market is entering a new price formation phase based on regulatory stability and technical superiority.

*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.*