Bitcoin Nears $85,000 Resistance, Ethereum Consolidates, Ripple Holds $1.500
Bitcoin (BTC) is closing in on a key resistance zone near $85,000, a level that could determine its next directional move. The cryptocurrency has been trading at $84,902 on Friday, after a 1.5% rebound the previous day. This price action maintains a bullish bias for Bitcoin, as it holds above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), clustered in the mid-$74,000 to upper-$78,000 range.
On the other hand, Ethereum (ETH) is consolidating around $2,700, as traders await its next directional move. The cryptocurrency has been trading at $2,716 on Friday, extending its ongoing recovery. Ethereum maintains a bullish near-term bias, as it holds well above the 50-day EMA at $2,467 and the longer-term 100-day and 200-day EMAs at $2,299 and $2,271, respectively.
Ripple (XRP) is holding steady around $1.500, after recovering losses from earlier this week. The cryptocurrency maintains a bullish near-term bias, as it holds above the 50-day EMA at $1.381 and the 200-day EMA at $1.376.