Crypto Bulls Drive Fresh Upswing as BTC Targets Key Fibonacci Level

Key Moments

Bitcoin (BTC) traded above $92,700 on Monday after closing above the $90,000 consolidation zone, eyeing resistance at $94,253.
Ethereum (ETH) held above its 50-day EMA at $3,120 and traded above $3,190, with upside potential toward the December 10 high at $3,447.
Ripple (XRP) climbed beyond its 50-day EMA at $2.04 and traded above $2.14, with bulls targeting resistance at $2.35.

Broad-Based Strength Across Major Cryptocurrencies

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) extended their advances on Monday after a strong prior week. Over the previous week, BTC, ETH, and XRP gained more than 4%, 6%, and 12%, respectively. The three largest cryptocurrencies by market capitalization remained under clear bullish control, with price action and momentum indicators signaling potential for further upside.

Bitcoin Breaks Out Above $90,000 Range

Bitcoin’s price action strengthened after it closed above the upper boundary of its consolidation zone at $90,000 on Saturday, followed by a modest rise on Sunday. By Monday, BTC was trading above $92,700, sustaining its upward trajectory.

If the current trend continues, BTC could push higher toward the next resistance at $94,253. This level coincides with the 61.8% Fibonacci retracement of the move from the April low at $74,508 to October’s all-time high at $126,199.

On the daily chart, the Relative Strength Index (RSI) stood at 62, above the neutral 50 level, pointing to strengthening bullish momentum. The Moving Average Convergence Divergence (MACD) indicator also showed a bullish crossover, with green histogram bars building above the neutral line, reinforcing the constructive technical backdrop.

If selling pressure emerges, BTC could retrace toward the important support zone at $90,000.

The nasty path for Bitcoin short-term
GM,
Past 5 weeks we saw $BTC ranging between lower 80s and lower 90s.
Since last week we see a bit more strength on the SPOT side, thus a continuation towards 92k area.
The nastiest thing Bitcoin could do now, is to go and pick up some… pic.twitter.com/oacuFKDRyg
— MisterSpread (@MisterSpread) January 5, 2026

Asset	Key Level	Indicator / Context
BTC (Bitcoin)	$90,000	Upper consolidation range and key support
BTC (Bitcoin)	$92,700	Trading level on Monday
BTC (Bitcoin)	$94,253	Next resistance and 61.8% Fibonacci retracement

Ethereum Holds Above 50-day EMA Support

Ethereum’s price structure also improved as it cleared key resistance levels. ETH closed above a daily resistance at $3,017 on Friday, then inched higher to finish Sunday above its 50-day Exponential Moving Average (EMA) at $3,120. On Monday, ETH was trading above $3,190.

As long as the 50-day EMA at $3,120 acts as a support base, Ethereum could continue its advance toward the December 10 peak at $3,447.

Similar to Bitcoin, Ethereum’s RSI and MACD were signaling bullish conditions, supporting a favorable technical outlook.

If ETH fails to hold above the 50-day EMA at $3,120 on a daily closing basis, the price could slip back toward the daily support area at $3,017.

Asset	Level	Role
ETH (Ethereum)	$3,017	Daily support / former resistance
ETH (Ethereum)	$3,120	50-day EMA and key support
ETH (Ethereum)	$3,190+	Trading level on Monday
ETH (Ethereum)	$3,447	December 10 high and upside target

XRP Extends Breakout Above Resistance and 50-day EMA

XRP also showed strong bullish follow-through. The token advanced nearly 7% on Friday, closing above a daily resistance at $1.96. Over the following two sessions, XRP continued to climb, moving through its 50-day EMA at $2.04. On Monday, XRP was trading above $2.14.

Should the current uptrend continue, XRP could test the next significant resistance level at $2.35.

In line with BTC and ETH, XRP’s RSI and MACD readings were tilted to the upside, supporting a constructive momentum profile.

If XRP undergoes a pullback, price action could retreat toward the 50-day EMA at $2.04, which now represents an important support zone.

Asset	Level	Context
XRP (Ripple)	$1.96	Daily resistance recently broken
XRP (Ripple)	$2.04	50-day EMA and potential support
XRP (Ripple)	$2.14+	Trading level on Monday
XRP (Ripple)	$2.35	Next key resistance

Key Crypto Metrics Explained

Circulating Supply

The developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued. Only a certain number of these assets can be minted by mining, staking or other mechanisms. This is defined by the algorithm of the underlying blockchain technology. On the other hand, circulating supply can also be decreased via actions such as burning tokens, or mistakenly sending assets to addresses of other incompatible blockchains.

Market Capitalization

Market capitalization is the result of multiplying the circulating supply of a certain asset by the asset’s current market value.

Trading Volume

Trading volume refers to the total number of tokens for a specific asset that has been transacted or exchanged between buyers and sellers within set trading hours, for example, 24 hours. It is used to gauge market sentiment, this metric combines all volumes on centralized exchanges and decentralized exchanges. Increasing trading volume often denotes the demand for a certain asset as more people are buying and selling the cryptocurrency.

Funding Rate

Funding rates are a concept designed to encourage traders to take positions and ensure perpetual contract prices match spot markets. It defines a mechanism by exchanges to ensure that future prices and index prices periodic payments regularly converge. When the funding rate is positive, the price of the perpetual contract is higher than the mark price. This means traders who are bullish and have opened long positions pay traders who are in short positions. On the other hand, a negative funding rate means perpetual prices are below the mark price, and hence traders with short positions pay traders who have opened long positions.