Key Moments
- Bitcoin (BTC) held support at the 78.60% Fibonacci retracement at $85,869 and rebounded 3.67% over three days.
- Meanwhile, Ethereum (ETH) recovered nearly 6% after holding a descending trendline and is now near resistance at $3,017.
- At the same time, XRP is testing resistance at $1.96 after bouncing from a falling wedge, with MACD turning bullish.
Bitcoin Targets Break Above Descending Trendline
At the start of the week, Bitcoin (BTC) is trading near key technical levels as the broader crypto market stabilizes. As a result, traders are closely watching whether BTC can hold its rebound and post a strong daily close above resistance.
Last Thursday, Bitcoin retested and held the 78.60% Fibonacci retracement at $85,869. After that, price advanced 3.67% over the next three days. By Monday, BTC had moved closer to a descending trendline drawn from multiple highs since October 6.
If Bitcoin breaks above this trendline and closes above $90,000, momentum could build further. In that case, price may advance toward the next resistance zone near $94,253.
Meanwhile, the Relative Strength Index (RSI) stands at 45 and is trending higher toward the neutral 50 level. This move suggests bearish pressure is easing. In addition, the MACD posted a bullish crossover on Saturday, which supports the recovery view.
However, if BTC loses momentum and turns lower, the pullback could extend toward key support at $85,569.
| Asset | Key Support | Immediate Resistance | Next Upside Target | RSI |
|---|---|---|---|---|
| BTC/USDT | $85,569 | $90,000 | $94,253 | 45 |
Ethereum Approaches Daily Resistance at $3,017
Similarly, Ethereum (ETH) is nearing an important resistance level as market conditions steady. On Thursday, ETH retested support along a descending trendline. Shortly after, it rebounded nearly 6% over three days.
As of Monday, ETH is approaching daily resistance at $3,017. Therefore, a confirmed close above this level would improve the outlook. Such a move could open the path toward the December 10 high at $3,447.
At present, ETH’s RSI sits at 47 and is moving higher toward the neutral 50 mark. This shift shows bearish momentum is fading. Meanwhile, the MACD lines are converging. A bullish crossover would further support the recovery case.
On the downside, if ETH fails to break resistance, price could slide back toward support at $2,749.
| Asset | Support | Resistance | Upside Target | RSI |
|---|---|---|---|---|
| ETH/USDT | $2,749 | $3,017 | $3,447 | 47 |
XRP Tests Resistance After Bounce From Falling Wedge
Meanwhile, XRP is attempting to stabilize after holding a key chart pattern. On Friday, the token retested the lower boundary of a falling wedge and found support. The following day, price posted a modest rebound.
By Monday, XRP was moving toward daily resistance at $1.96. A daily close above this level would strengthen the bullish case. In that scenario, price could extend toward the 50-day EMA at $2.13.
Currently, the RSI sits at 42, which remains below neutral. This reading shows bearish momentum has not fully faded. However, the MACD printed a bullish crossover on Monday, hinting at an early momentum shift.
Still, if XRP fails to break higher, another pullback could bring price back toward Friday’s low at $1.77.
| Asset | Support | Resistance | Upside Target | RSI |
|---|---|---|---|---|
| XRP/USDT | $1.77 | $1.96 | $2.13 | 42 |
Understanding Core Cryptocurrency Metrics
Circulating Supply
First, circulating supply refers to the number of tokens currently available in the market. Developers set the total supply limit in the blockchain’s code. This limit controls how tokens are created through mining, staking, or similar processes.
Over time, circulating supply can decline. For example, token burns or lost tokens can reduce the amount actively trading.
Market Capitalization
Next, market capitalization measures a cryptocurrency’s total market value. It is calculated by multiplying the circulating supply by the current price. As a result, it provides a simple snapshot of market size.
Trading Volume
Trading volume shows how many tokens change hands over a set period, often 24 hours. This figure combines activity from centralized and decentralized exchanges.
Generally, rising volume signals stronger interest. In contrast, falling volume may suggest weakening participation.
Funding Rate
Finally, funding rates apply to perpetual futures markets. They help keep futures prices aligned with spot prices. Exchanges set these payments between traders at regular intervals.
When funding is positive, long traders pay short traders. Conversely, when funding is negative, short traders pay longs. These payments encourage balanced positioning in the market.
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