Bitcoin and Ethereum Price Action Hinges on Key Resistance Levels

Bitcoin, Ethereum, and XRP are showing signs of short-term recovery but remain at a crucial point in their price movements. While they have managed to avoid deeper declines for now, several resistance levels continue to limit a stronger rebound.

Bitcoin is currently trading within a wide range, with $60,000 serving as significant support and $66,000-$67,000 acting as resistance. A confirmed move below $62,000 could lead to a new lower low, increasing the likelihood of a more substantial decline in the coming weeks. Conversely, breaking above $65,500 could weaken the current bearish setup and allow Bitcoin to continue its upward movement.

Ethereum is also trading within a range, facing resistance around $1,940-$1,970. Support for ETH lies at $1,800-$1,830, while a broader support zone spans from approximately $1,500 to $1,600. A sustained move above $1,970-$1,980 could improve Ethereum's outlook and bring $2,130-$2,150 into focus.

XRP remains weaker than Bitcoin and Ethereum, with its weekly trend still bearish. The next major support for XRP lies around $0.93. On the daily chart, XRP is holding close to the $1 level and displaying a possible bullish divergence between its price and RSI. However, this signal has not been confirmed yet.