The post Bitcoin Defends $100K: Could ETH and XRP See a Pre-Christmas Rally? appeared on BitcoinEthereumNews.com.

The cryptocurrency landscape is witnessing pivotal moments as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) navigate significant support levels following recent market fluctuations. Despite recent sell-offs initiated by the Federal Open Market Committee’s (FOMC) decisions, bullish sentiments linger for major digital assets, creating potential for recovery. According to COINOTAG, industry analysts emphasize, “Current price behaviors suggest a defensive posture from significant market players amidst broader economic shifts.” This article analyzes BTC, ETH, and XRP’s recent performance and recovery strategies, providing insights into market trends and forecasts. Market Resilience: Bitcoin’s Defense at $100K Bitcoin’s recent performance has secured vital support around the $100K threshold. Following the December 18th FOMC meeting, where the US Federal Reserve enacted a 0.25% interest rate cut, BTC’s price retracement initially triggered concerns among investors. However, this psychological barrier has proved resilient. Notably, the alignment of the 100-day exponential moving average (EMA) with the $98K-$100K price range has fortified this support level. Analysts believe that sustaining this level could enable Bitcoin bulls to targeting upcoming resistance points at $104K and $108K. Conversely, a breakdown below these pivotal support levels could lead to critical sell-offs, potentially pushing BTC toward lower targets of $90K and even $85K. Source: BTC/USDT, TradingView Ethereum’s Path: Consolidation and Potential Upsides Ethereum has also demonstrated notable resilience, consolidating between $3.5K and $4K since early December. After a recent drop from $4.1K, ETH has rebounded at the crucial $3.5K support level, indicating a potential for further gains. A sustained move above the $3.7K resistance could signify a decisive trend reversal. If Ethereum breaks above its established trendline (depicted in white) and regains its upward momentum, targets of $4K may soon be within reach. However, if ETH fails to hold its channel support, fears of bearish pressure could drag it down to $3.3K or lower towards…

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Filed under: News - @ December 19, 2024 3:28 pm