BTC is consolidating while ETH and XRP are rallying

• Bitcoin price settled at $96,000 on Monday after recovering from last week’s decline.
• Ethereum price closed above weekly resistance at $3,454, suggesting a rally towards $4,000.
• Ripple price extended gains on Monday after rising more than 60% in the previous week.

Bitcoin (BTC) consolidated on Monday after recovering from last week’s decline. At the same time, Ethereum (ETH) and Ripple (XRP) extended their rallies, fueled by investors shifting capital from BTC to altcoins, indicating the potential for continued bullish momentum.

Bitcoin is consolidating after a recovery

Bitcoin price experienced a 7% correction last week, falling to $90,791 before recovering to $97,000 on Friday and consolidating over the weekend. On Monday the price was slightly in the red at around $96,600.

If BTC continues its uptrend, it could rally and reach its all-time high (ATH) of $99,588.

The daily chart’s Relative Strength Index (RSI) is at 65, above its neutral level of 50, indicating bullish momentum. However, traders should be cautious as the Moving Average Convergence Divergence (MACD) indicator showed a bearish crossover on November 26th, signaling sell signals.

BTC/USDT daily chart

If BTC fails to maintain its uptrend and corrects, the decline could extend and retest its key psychological level of $90,000.

Ethereum has its sights set on the $4,000 mark

Ethereum price broke and closed above weekly resistance at $3,454 on Wednesday and rose nearly 3.5% over the next 4 days. At the time of writing on Monday, it is around $3,691.

If $3,454 holds as support, ETH could rally and retest the psychologically important $4,000 level.

The RSI indicator on the daily chart is at 68, above its neutral level of 50, suggesting that bullish momentum is gaining momentum well below overbought conditions.

ETH/USDT daily chart

On the other hand, if ETH declines and closes below the $3,454 level, there could be a pullback to retest the $3,335 support level.

Ripple bulls remain strong

Ripple price rose more than 60% last week to hit a new three-year high of $2.35. On Monday, it extended its gains and traded higher than $2.41.

If XRP continues its bullish momentum, it will continue its rally and retest the $2.66 level. However, the RSI is at 93, indicating overbought conditions and increasing risk of a correction. The RSI moving out of the overbought zone could mean a pullback.

XRP/USDT daily chart

If XRP fails to maintain bullish momentum and suffers a pullback, it could decline to retest its $1.96 support level. Frequently asked questions about Bitcoin, altcoins and stablecoins