Bitcoin Bulls Target $100,000 Milestone as Crypto Market Gains Traction

The cryptocurrency market is gaining traction as major coins like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) show bullish momentum. With technical indicators signaling potential uptrends, traders are closely monitoring key levels that could define the market's direction in the coming weeks.

Major cryptocurrency prices showed bullish momentum on Friday, with technical indicators signaling potential uptrends.

Bitcoin bulls targeted the $100,000 milestone, while Ethereum faced resistance at $4,000 and Ripple prepared for a symmetrical triangle breakout.

Bitcoin Bulls Target $100,000 Milestone

BTC found strong support at the 61.8% Fibonacci retracement level of $92,606, aligning with its 50-day Exponential Moving Average (EMA) at $93,588. Following this bounce, Bitcoin rose 4.5% over three days, trading near $97,000 as of Friday.

Technical indicators pointed to continued bullish momentum. The Relative Strength Index (RSI) on the daily chart read 51 and was trending upward, while the Moving Average Convergence Divergence (MACD) indicator was on the verge of a bullish crossover.

If Bitcoin maintained support above $92,606, it could extend its rally to test the $100,000 psychological barrier. A successful close above this level might pave the way for BTC to retest its December 2024 all-time high of $108,353. Conversely, a drop below $92,606 could see BTC revisiting the $90,000 support zone.

Ethereum Inches Toward $4,000 Resistance

Ethereum continued to consolidate within the $3,245–$3,522 range, with its current price at $3,461, nearing the upper resistance. The $3,245 level, which aligns with a 50% Fibonacci retracement, has served as a crucial support since December 2024.

If ETH broke above the $3,522 level, it could target the $4,000 mark, a significant psychological milestone. The MACD indicator hinted at an imminent bullish crossover, signaling potential upward momentum. However, with the RSI at 48—slightly below the neutral 50 level—indecisiveness among traders persisted.

A breakdown below $3,245 could lead to further declines, potentially testing the $3,000 support level.

Ripple Prepares for a Symmetrical Triangle Breakout

Ripple was trading within a symmetrical triangle pattern, which typically signals an impending breakout. Currently priced at $2.45, XRP was approaching the triangle’s upper resistance trendline near $2.56.

A breakout above $2.56 could trigger a rally, with the pattern's technical target set at $3.63. However, the $3.00 level, a key psychological resistance, might prompt profit-taking and slow the rally.

Technical indicators were aligned with the bullish scenario. Ripple’s RSI read 61, suggesting strong buying momentum, while the MACD indicator was on the cusp of a bullish crossover, supporting the likelihood of an upward move.

Market Sentiment Fuels Optimism

The overall sentiment in the cryptocurrency market appeared to favor bullish trends as Bitcoin approached key milestones, Ethereum tested critical resistance, and Ripple eyed a breakout. As traders watched for decisive moves, the market was poised for potentially significant gains in the near term.