Crypto Titans Rally: Bitcoin Tops $121K, Ethereum Breaks $3K
Monnie Brunt OkvK
Updated at: 3 hours ago
{"content":"Crypto Titans Rally: Bitcoin Tops $121K, Ethereum Breaks $3K, XRP Targets $3+
Bulls aim $126K as Bitcoin reaches a record $121K.
A golden cross helps Ethereum rise beyond $3,000, enhancing its prospects of additional increases.
Ripple's XRP continues Sunday's gains for a bullish week, approaching $3.
Bitcoin (BTC) hits a new high of $121,492 on Monday. Ethereum (ETH) breaks $3,000 as Ripple (XRP) approaches $3. With increased positive momentum, traders expect the top 3 cryptocurrencies to surge further.
Bitcoin sets record high, aims $126K
At press time on Monday, Bitcoin reached unknown peaks over $121K, up roughly 2%. The BTC surge tests the 61.8% trend-based Fibonacci retracement mark at $121,357 from April 7's $74,508 low to May 22's $111,980 high.
Bitcoin is entering price discovery phase, thus a daily close over $121,357 might extend the rise to $127,652, the 78.6% Fibonacci level.
A pullback from the 61.8% Fibonacci level at $121,357 might continue the decline to the 50% level at $116,936.
Ethereum surpasses $3,000 as surge continues
Ethereum is up over 2% today, surpassing $3,000 for a five-month high. The largest cryptocurrency approaches the 61.8% Fibonacci retracement mark at $3,067 from the December 16 high of $4,107 to the April 9 low of $1,385.
A decisive closing above this level might extend the uptrend to 3,525, the 78.6% Fibonacci level.
However, if Ethereum reverses from $3,067, it may attempt the 50% Fibonacci level at $2,746.
Trend-reversal rally XRP targets $3.
XRP is up over 3% on Monday, building on last week's 24% gain. The cross-border payment coin breaks a resistance trendline between January 16 and May 12 highs.
If XRP closes above $2.99, the March 2 high, it might continue the upswing to $3.29, last reached on January 20.
XRP might hit $2.65 support previously tested on Saturday if it reverses.
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