Bitcoin is facing resistance around $66,000

• Bitcoin price faces resistance around its key $66,000 level; a close above this level could continue its rise.
• Ethereum price is finding support around its 50-day EMA around $2,600, with a rally coming.
• Ripple price is breaking the consolidation zone between the key levels of $0.560 and $0.613, signaling an upside on the horizon.

Bitcoin (BTC) is at a critical resistance point, and a close above this level could signal further gains. At the same time, Ethereum (ETH) and Ripple (XRP) are gaining momentum as they establish support and break through key levels, suggesting potential rallies ahead.

Bitcoin is poised for a rally if it breaks above $66,000

Bitcoin price broke through the consolidation zone between $62,000 and $64,700 on Thursday and rose 1% over the next two days. However, it faced rejection around the psychological level of $66,000 on Saturday and fell slightly the following day. As of this writing on Monday, it continues to trade lower around $64,500.

If BTC breaks and closes above the $66,000 level, it could rise 6% to retest the July 29 high of $70,079.

The Relative Strength Index (RSI) on the daily chart has dipped slightly and is currently pointing down, trading at 59, indicating a slowdown in bullish momentum. For Bitcoin to continue its rise, the RSI must rise above the current trading level. However, traders should be cautious if it breaks above the overbought level of 70.

BTC/USDT Daily Chart

However, if BTC breaks and closes below the consolidation zone around $62,000, it could extend the 7% decline to retest the September 17 low of $57,610.

Ethereum is finding support at a key level, eyeing a potential rally ahead

Ethereum price is trading around the 50-day exponential moving average (EMA) at $2,601 on Monday. It found support after breaking the downtrend line on September 19, leading to an 11% rally.

If the 50-day EMA support at $2,601 holds, ETH could continue its rally from the current trading level of $2,625 to retest the August 24 high of $2,820.

The RSI on the daily chart is trading lower near the 55 level, reflecting declining bullish momentum. For the rally to be sustained, the RSI must rise above 60, which generally indicates bulls are gaining traction.

ETH/USDT Daily Chart

However, if the 50-day EMA fails to hold and Ethereum price declines to close below the daily support level of $2,461, it could further decline to retest the September 6 low of $2,152.

Ripple price is eyeing an upside if it closes above the resistance barrier

Ripple price broke the consolidation zone between the key levels of $0.560 and $0.613 on Sunday and rose 4.5%. It also retested its July 31 high of $0.658 but failed to close above it. Since Monday, it has been trading slightly above $0.645.

If Ripple price closes above the $0.658 level, it could rise 11% to retest the March 12 high of $0.732.

RSI is approaching the overbought level of 70. If it enters the zone on a closing basis, the chances of a price reversal increase. Another possibility is that the rally continues and the RSI climbs further into overbought.

XRP/USDT Daily Chart

However, if Ripple price breaks and closes below the consolidation area around $0.613, it could continue and extend the decline to retest the lower consolidation level at $0.560.