The digital assets market is surging back as a new fierce bullish wave has taken charge. This follows weeks of turmoil sparked by a series of international tariff wars. Bitcoin, Ethereum and XRP all charge ahead, bullishly aligned with heavy gains and strong technical indicators. According to market analysts, it could be quite a profitable week for crypto investors, if the trends observed so far are maintained.
Ethereum Breaks Key Resistance, Eyes Higher Targets
Ethereum (ETH) has followed Bitcoin’s bullish momentum, breaking out of the important $1,600 resistance level. If this breakout holds, this could be the start of real second-order momentum for the second-largest cryptocurrency. Ethereum’s market dominance is enjoying the lift, now sitting at 7.21% market cap of $197.805 billion.
ETH price could be on its way to its key resistance area at $1,800 if the bullish momentum continues. If the bears do take over, a drop back down to retest support at $1,500 is still a distinct possibility this week. Furthermore, the Relative Strength Index (RSI) indicator on the 4-hour timeframe is nearing overbought territory. With the price still firmly under bullish control, suggesting a bullish caution is required, the price could easily spike to create a new weekly high.
XRP Regains Momentum with Significant Gains
Ripple’s XRP has been able to regain the lost momentum, adding nearly 20% of its value during the last week. The other technical indicators, Simple Moving Average (SMA) and RSI, are poised for bullish crossovers on the 4-hour chart. This movement continues to fuel the bullish outlook. The Simple Moving Average (SMA) always serves as a support to the XRP coin price.
Should bullish conditions prevail in the market and favor buyers, XRP might aim for its next significant resistance place of $2.50. And top altcoins such as Ethereum and XRP continue to shine. They both have exploded through their important resistance lines, resulting in almost identical price action.
Bitcoin Reclaims $84,000 Amid Bullish Market Sentiment
Bitcoin (BTC) is gradually inching towards reclaiming the $84,000 level again. It recorded an intraday increase of more than 1% and managed to get a trading volume of $32.236 billion. 4h RSI successfully retested, neutral point, bullish divergence. The entire crypto space has made a dramatic comeback in the last 48 hours. This increase follows weeks of chaos in the market due to the effects of an escalating tariff war between the U.S. and other countries.
