Bitcoin shows resilience and targets $65,000 milestone

• Bitcoin price is recovering from the key psychological level of $62,000 and is showing signs of an impending rally.
• Ethereum price breaks its resistance barrier and closes above it, indicating an impending upside move.
• Ripple price remains above its support level at $0.544, indicating a continuation of an uptrend.

Bitcoin (BTC) and Ripple (XRP) have stabilized around their key support levels, positioning themselves for possible price rallies. At the same time, Ethereum (ETH) has broken its resistance barrier, suggesting bullish momentum on the horizon.

Bitcoin gains momentum and targets $65,000 mark

Bitcoin broke the ascending trend line and the 100-day exponential moving average at $61,000 on September 18. Over the next four days, it rose 3% and found support at its key psychological level of $62,000. At the time of writing on Monday, it continues to trade above the $63,800 level.

If the psychological support at $62,000 holds, BTC could resume its uptrend and retest its daily resistance at $65,379.

The Moving Average Convergence Divergence (MACD) indicator continues to support Bitcoin's rise, signaling a bullish crossover on the daily chart. The MACD line (blue line) moved above the signal line (yellow line), giving a buy signal. It shows rising green histogram bars above the neutral zero line, which also suggests that Bitcoin price could experience bullish momentum.

Furthermore, the Relative Strength Index (RSI) on the daily chart shows that Bitcoin is not yet overbought as it is trading at 63 but is close to the overbought level of 70. If it enters this zone on a closing price basis, traders are advised not to increase their long positions even though the rally could continue. If it enters the overbought zone and then retraces back to the neutral level of 50, it will be a sign of a deeper correction.

BTC/USDT daily chart

However, if Bitcoin fails to find support around $62,000 and breaks below its September 17 low of $57,610, the 3% decline could extend and retest daily support around $56,000.

Ethereum prepares the ground for a rally after overcoming the resistance barrier

Ethereum price broke the descending trend line and closed above its daily resistance level at $2,461 on Friday. It has continued to rise since Monday and is trading at $2,681.

If the $2,461 support holds, ETH could resume its uptrend and retest its August 24 high of $2,820.

The MACD indicator continues to support Ethereum's rise and signals a bullish crossover on the daily chart. The MACD line moved above the signal line, giving a buy signal. It shows rising green histogram bars above the neutral zero line, which also suggests that Ethereum price could experience bullish momentum.

Moreover, the RSI indicator is trading at 61, above its neutral level of 50 and pointing up. A rise to levels above 60 will suggest that bullish momentum is gaining momentum.

ETH/USDT daily chart

Conversely, if Ethereum closes below the daily support level of $2,461, it could continue to decline and revisit its September 6 low of $2,152.

Ripple price stabilizes above support, indicating continuation of upside momentum

Ripple price has been stabilizing above its daily support level of $0.544 for a week. This daily level roughly corresponds to the 200-day EMA at $0.552, making it a key support zone. It has been trading around $0.589 since Monday.

If the 200-day EMA and the daily support at around $0.544 hold as support, XRP could resume its uptrend and retest its daily resistance level at $0.626.

The MACD indicator continues to support Ripple's uptrend, signaling a bullish crossover on the daily chart. The MACD line moved above the signal line, giving a buy signal. It is showing rising green histogram bars above the neutral zero line, which also suggests that Ripple price could experience bullish momentum.

In addition, the RSI indicator is trading at 56, above its neutral level of 50. A rise to levels above 60 would indicate that bullish momentum is increasing.

XRP/USDT daily chart

However, the bullish prediction would be invalidated if Ripple's daily candlestick closes below the daily support level of $0.544 and breaks below the ascending trend line. In such a case, XRP would fall by 7.5% and retest its September 6 low of $0.502.