Manish Chhetri
FXStreet
Bitcoin (BTC) price trades above $117,000 on Friday, with bulls setting sights on $120,000. Ethereum (ETH) and Ripple (XRP) are following BTC’s lead and hold above key support levels, and are aiming for a fresh bullish leg in the upcoming days.
Bitcoin price broke above the 50-day Exponential Moving Average (EMA) on September 10 and rallied 2.43% over the next six days, closing above the $116,000 resistance level on Tuesday. BTC faced a slight rejection on Wednesday, retested, and found support around $116,000, rallying slightly the next day. At the time of writing on Friday, it trades at around $117,000.
If BTC continues its upward momentum, it could extend the rally toward the psychological level of $120,000.
The Relative Strength Index (RSI) on the daily chart reads 61, remaining steady above the midline and reflecting bullish momentum. The Moving Average Convergence (MACD) indicator on the same chart displayed a bullish crossover on September 6, which remains in effect, indicating sustained bullish momentum and an upward trend ahead.
BTC/USDT daily chart
On the contrary, if BTC corrects and closes below the $116,000 support level, it could extend the decline toward the 50-day Exponential Moving Average (EMA) at $113,924.
Ethereum price broke above the upper consolidation boundary at $4,488 on September 12 and rallied by 5.68%. However, it failed to maintain its upward momentum and declined 4.53% in the next four days, retesting its upper consolidation level at $4,488 on Tuesday. ETH rebounded by 1.98% on Wednesday from this support level and hovered around $4,500 the next day. As of Friday, it continues to stabilize at around $4,500.
If the support at $4,488 continues to hold, ETH could extend the recovery toward its record high at $4,956.
The RSI on the daily chart reads 57, remaining steady above the midline and reflecting slight bullish momentum. However, the MACD lines are converging, indicating indecisiveness among traders.
ETH/USDT daily chart
However, if ETH closes below the $4,488 level, it could extend the decline toward the lower boundary at $4,232, which coincides with the 50-day EMA.
XRP price broke above the falling wedge pattern (drawn by connecting multiple highs and lows with two trendlines since mid-July) on September 11; a breakout of this pattern favors the bulls. XRP rallied 2.5% in the next two days. However, it declined by 3.4% until Monday, retesting its breakout point around $2.99, and rebounded by 3% the next two days. At the time of writing on Friday, it hovers around $3.06.
If XRP continues its upward momentum, it could extend the rally toward its daily resistance at $3.40.
The RSI on the daily chart reads 55, above its neutral level of 50, indicating slight bullish momentum. Like Bitcoin, XRP’s MACD indicator also supports the bullish view.
XRP/USDT daily chart
On the other hand, if XRP faces a correction, it could extend the decline toward its 50-day EMA at $2.95.
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin’s market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Pi Network (PI) price sustains a steady move in a tight range above $0.3500 at press time on Thursday, extending the sideways trend. The consolidation phase marks an end to the prevailing downfall, which holds the fate of the upcoming trend.
Ripple (XRP) price gains bullish momentum above $3.12 on Thursday, underpinned by the United States (US) Federal Reserve's (Fed) 25-basis-point interest rate cut on Wednesday.
Bitcoin rises above $117,000 after the Federal Reserve interest rate decision and the dot plot's dovish outlook. Ethereum steadies around $4,600 despite minor ETF outflows. XRP bulls regain control of the trend, targeting a breakout toward the $3.66 record high.
Bitcoin (BTC) is gaining momentum after rebounding from key support, trading above $117,000 at the time of writing on Thursday. The rally follows the US Federal Reserve’s (Fed) 25-basis-point (bps) rate cut decision on Wednesday.
Bitcoin steadies around $115,000 at the time of writing on Friday, having recovered nearly 4%. This recovery is further fueled by strong institutional inflows and renewed corporate accumulation this week.
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.
©2025 "FXStreet" All Rights Reserved
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and omissions may occur. Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, clients or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.