Bitcoin has crossed $65,000 and is targeting $70,000

• Bitcoin breached the upper limit of the $64,700 range, following a rally ahead.
• Ethereum price is finding support around its 50-day EMA around $2,600, signaling an upside on the horizon.
• Ripple price is consolidating between $0.560 and $0.613, indicating a phase of uncertainty.

Bitcoin (BTC) has broken above its consolidation zone, signaling a potential bullish move ahead. At the same time, Ethereum (ETH) is finding support at a key level, suggesting an upcoming rally. Conversely, Ripple (XRP) is consolidating between its crucial levels, indicating a period of indecision among traders.

Bitcoin price is poised for a rally if it holds above the resistance barrier

Bitcoin price broke and closed above the consolidation zone between $62,000 and $64,700 on Thursday, closing above $65,000. As of Friday, it is trading slightly lower around $64,900 after encountering resistance at the daily $65,379 level.

If BTC breaks and closes above its daily resistance at $65,379, it could rise 7% from the breakout point to retest the July 29 high of $70,079.

The Relative Strength Index (RSI) on the daily chart has dipped slightly and is currently headed down, trading at 64. For Bitcoin to continue its rise, the RSI needs to rise and head towards 70. However , traders should be cautious if overbought exceeds the 70 level.

BTC/USDT Daily Chart

On the other hand, 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 $2,594 on Friday. It found support after breaking the downtrend line on September 19, leading to an 11% rally.

If the 50-day EMA at $2,594 holds, ETH could continue its rally to retest the August 24 high of $2,820.

The RSI on the daily chart is trading lower near the 57 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 consolidating between two key levels

Ripple price traded above the uptrend line (drawn by connecting multiple July 5 lows) and consolidated between the key levels of $0.560 and $0.613 for over two weeks. As of Friday, it is trading at around $0.586.

If Ripple breaks this consolidation range around $0.613, it could first rise to retest the daily resistance level at $0.626. A daily close above this level could extend the rally by 5% to retest the July 31 high of $0.658.

The RSI on the daily chart is trading above its neutral level of 50 and hovering around 53. For the rally to be sustained, the RSI needs to rise above 60, indicating bulls are getting strong for the upside .

XRP/USDT Daily Chart

However, if Ripple price were to break below the consolidation zone around $0.560 and close below the daily support level of $0.544, it would also break below the uptrend line, changing the market structure to bearish. In such a case, XRP would fall 7.5% to retest the September 6 low of $0.502.