Bitcoin price bounces off the key support level of $92,606, suggesting a recovery on the cards.
Ethereum price approaches its upper consolidation level of $3,522; a firm close above would signal a bullish trend.
Ripple price could rally if it breaks above the upper symmetrical triangle boundary.
Bitcoin’s (BTC) price finds support around its key level, while Ethereum’s (ETH) price is approaching its key resistance level; a firm close above it would signal a bullish trend. Ripple (XRP) price trades within a symmetrical triangle on Friday, a breakout from which could signal a rally ahead. Bitcoin price found support around the 61.8% Fibonacci retracement level of $92,606 on Monday and rose 4.5% in the next three days. This level roughly coincides with the 50-day Exponential Moving Average (EMA) at $93,588, making it a key reversal zone. At the time of writing on Friday, it trades at around $97,000.If the $92,606 level continues to hold as support, BTC will extend its rally to retest its key psychological importance level of $100,000. A successful close above it would extend an additional rally to retest its December 17, 2024, all-time high of $108,353.The Relative Strength Index (RSI) on the daily chart reads 51, above its neutral value of 50 and points upwards, indicating a rise in bullish momentum. Additionally, the Moving Average Convergence Divergence (MACD) indicator on the daily chart is about to flip a bullish crossover. If the MACD (blue line) crosses over the signal line (orange line), it will give buy signals suggesting an upward trend.BTC/USDT daily chartHowever, if BTC closes below the $92,606 level, it would extend the decline to retest its key support level at $90,000.Ethereum price consolidates between the $3,245 and $3,522 ranges after finding support around its 50% price retracement level of $3,245 on December 23, 2024. At the time of writing on Friday, it trades around $3,461, approaching its upper consolidation level of $3,522.If ETH breaks above the $3,522 level, it would extend the rally to retest its psychological importance level of $4,000.The RSI on the daily chart reads 48, below its neutral value of 50, suggesting indecisiveness among traders. However, like Bitcoin, the MACD indicator is above to flip a bullish crossover on the daily chart, signaling an upward trend on the horizon.ETH/USDT daily chartConversely, if ETH breaks and closes below $3,245, its lower consolidating band, it would extend the decline to retest its next support level at $3,000.Ripple price trades inside a symmetrical triangle, a technical pattern formed by connecting multiple high and low levels with two converging trendlines (from early December to early January). This technical pattern has a bullish bias, and the target is generally obtained by measuring the distance between the first swing high and the first swing low to the breakout point. As of Friday, Ripple trades at $2.45, approaching the triangle’s upper trendline. Assuming the bre
