3 Major Crypto Assets Price Predictions: Bitcoin Long Positions Target $126,000, ETH and XRP Set a Bullish Foundation to Start the Week

Bitcoin (BTC) continued its upward trend from Sunday, reaching a historical high of $121,448 during the Asian session today (14th). Ethereum (ETH) broke through the $3,000 mark, while Ripple (XRP) continued to rise, approaching the $3 mark. With the bullish momentum strengthening, traders expect the three major Crypto Assets to maintain their upward trend.

BTC reaches a historical new high, target price 126,000 USD

FXStreet analyst Vishal Dixit stated that as of the time of writing on Monday, Bitcoin has slightly risen by nearly 2%, breaking above the unknown level of 121,000 USD. The surge in Bitcoin challenges the 61.8% Fibonacci retracement level of 121,357 USD, which is formed by the movement from the low of 74,508 USD on April 7 to the high of 111,980 USD on May 22.

As Bitcoin enters a price discovery mode, a daily closing price above $121,357 may extend the bullish trend to the 78.6% Fibonacci level, which is $127,652.

On the daily chart, the Relative Strength Index (RSI) is at 77, indicating that Bitcoin is overbought. Additionally, the Moving Average Convergence Divergence (MACD) indicator shows that the green histogram is rising above the zero line, indicating that bullish momentum is strengthening.

If Bitcoin reverses from the 61.8% Fibonacci level of $121,357, it may extend the downward trend to the 50% level of $116,936.

(Source: Trading View)

ETH breaks 3,000 USD, bullish trend strengthens

Ethereum has reached a new five-month high, gradually approaching the 61.8% Fibonacci retracement level of $3,067, which is a retracement from the high of $4,107 on December 16 to the low of $1,385 on April 9.

If the closing price is confirmed to be above that level, the upward trend may continue to the 78.6% Fibonacci level of $3,525.

The 50-day Exponential Moving Average (EMA) crossing above the 200-day EMA marks a golden cross, which is typically regarded as a buy signal.

Technical indicators show a surge in bullish momentum, as the RSI at 74 highlights overbought conditions, while the green histogram bars on the MACD indicator are rising.

On the contrary, if Ethereum reverses from $3,067, it could lead to a retest of the 50% Fibonacci level at $2,746.

(Source: Trading View)

The trend reversal rebound of XRP is expected to break through 3 dollars

Ripple has risen over 3% since Monday, with a weekly gain of 24%. This cross-border payment token marks its breakthrough of the resistance trend line formed by the highs on January 16 and May 12.

As XRP rises to the resistance level of $2.99, the high point on March 2, if the daily closing price is above that resistance level, the bullish trend may continue to the level of $3.29 last tested on January 20.

According to the RSI indicator at 83, XRP is currently severely overbought after a parabolic pump. However, the MACD indicator shows that bullish momentum is strengthening as the green histogram bounces off the zero line.

The downside is that XRP's reversal may retest the $2.65 support level tested last Saturday.

(Source: Trading View)