- Bitcoin price reaches a new all-time high of $106,648 on Monday after rallying 3.32% in the previous week.
- Ethereum price nears the $4,000 resistance level; a firm close above this suggests a rally ahead.
- Ripple price finds support around $1.96; a firm close below this would indicate a decline ahead.
Bitcoin (BTC) price reaches a new all-time high (ATH) of $106,648 on Monday. At the same time, Ethereum (ETH) eyes a rally if it can firmly close above $4,000, and Ripple (XRP) holds support at $1.96, with a breakdown signaling a possible decline.
Bitcoin reaches a new all-time high above $106,600
Bitcoin price reaches a new all-time high (ATH) of $106,648, breaking its previous high of $104,684 on Monday. If BTC continues its upward momentum, it could extend the rally to test a new ATH of $119,510. This level aligns with the 141.4% Fibonacci extension line drawn from the November 4 low of $66,835 to the December 5 all-time high of $104,088.
The Relative Strength Index (RSI) on the daily chart reads 68 and points upwards towards its overbought level of 70, indicating the bullish momentum is gaining traction.
BTC/USDT daily chart
However, if BTC declines and closes below the $100,000 psychological level, it could extend the decline to restest its $90,000 support level.
Ethereum price is poised for a rally if it closes above the $4,000 level
Ethereum price found support around the $3,522 weekly level on December 10 and rallied 9% in the next six days. At the time of writing on Monday, it trades around $3,967, approaching its $4,000 resistance level.
If ETH breaks and closes above the $4,000 level, it could extend the rally by 12% to retest its December 9, 2021, high of $4,488.
The RSI on the daily chart reads 63 after bouncing off the neutral level of 50 on Tuesday, indicating that the bullish momentum is gaining traction.
ETH/USDT daily chart
However, if ETH gets rejected for the $4,000, it could extend the decline to retest its weekly support level at $3,522.
Ripple shows signs of indecisiveness
Ripple price found support around the $1.96 level on December 10 and rallied 11% until Sunday. At the time of writing on Monday, it trades slightly down around $2.40.
If XRP continues to rise and closes above $2.66, it could extend the rally to retest the psychologically important level of $3.00.
However, the RSI on the daily chart reads 63 after rejecting the overbought level of 70, suggesting indecisiveness among the traders.
XRP/USDT daily chart
Conversely, if XRP declines and closes below $1.96, it could extend the decline to retest its weekly support level at 1.40.
Bitcoin, altcoins, stablecoins FAQs
Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
XRP Price Prediction: XRP battles tariff turbulence amid MVRV buy signal
Ripple (XRP) seeks stability in a volatile crypto landscape influenced by macroeconomic factors, including reciprocal tariffs. The international money transfer token hit a low of $1.64 on Monday after opening the week at $1.92, representing a 14.5% daily drop.
Trade war escalates crypto market downturn amid President Trump's new tariff announcement
The cryptocurrency market extended its decline on Monday, stretching its market capitalization loss to $250 billion since the US slapped tariffs on international trading partners.
Chinese Yuan devaluation could drive Chinese capital flight into Bitcoin– says Arthur Hayes
BitMEX co-founder Arthur Hayes highlighted a potential Chinese Yuan devaluation in his X post on Tuesday, suggesting it could drive Chinese capital flight into Bitcoin. Arthur says this trend worked in 2013 and 2015 and can work in 2025.
Crypto whales buy 874 billion SHIB as Shiba Inu price plunges to lowest in 13 months
Shiba Inu (SHIB), one of the most talked-about meme coins in the cryptocurrency space, took a sharp nosedive on Monday, plunging below the $0.00001 threshold for the first time since February 2024.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.