Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) start the new week with a slight recovery after last week’s sharp correction. The three leading cryptocurrencies remain above key support zones, reinforcing expectations that the recovery momentum may continue to build. However, market sentiment remains quite sensitive, meaning any short-term price increase could face significant resistance.
Bitcoin slightly recovers after a deep correction
Bitcoin continued to experience strong volatility after being rejected at $106,453 on November 11, then plunging over 20% in the following 12 days and bottoming at $80,600 last Friday. However, buying pressure emerged to help BTC slightly recover over the weekend, closing above $86,830 on Sunday. By noon on Monday, the recovery momentum held, with the price trading above $87,700.
If bullish momentum continues to strengthen, Bitcoin could potentially extend its upward movement and target the next major resistance zone at $90,000.
BiBTC/USDT daily chart | Source: TradingView
On the daily timeframe, the RSI indicator is currently at 30 after falling below the oversold threshold last week. This suggests that selling pressure is gradually easing and panic selling may have weakened.
However, in a worse-case scenario, if BTC reverses and declines again, the price could retreat to the key psychological zone around $80,000.
Ethereum bounces after testing key support zone
Ethereum’s price was rejected at the previously broken trendline on November 13, resulting in a drop of over 18% in eight days and bottoming at $2,623 last Friday. Over the weekend, ETH saw a slight recovery as buying pressure appeared near the 61.8% Fibonacci zone at $2,749. As of noon Monday, the coin continues to recover and is trading above $2,840.
If the recovery momentum is sustained, ETH could extend its uptrend and target the important resistance zone around $3,017.
BiETH/USDT daily chart | Source: TradingView
Similar to Bitcoin, Ethereum’s RSI indicator has also bounced from the oversold region, reflecting waning bearish momentum and providing an early signal for the potential formation of a more sustained recovery.
However, if the price reverses and corrects, ETH is likely to retest the key support zone at $2,749.
XRP recovers after finding support at the $1.96 zone
XRP’s price was rejected at the 50-day EMA around $2.38 on November 13, then dropped nearly 19% over the next eight days and bottomed at $1.82 last Friday. After retesting the critical support zone at $1.96 over the weekend, XRP rebounded. As of Monday morning, the coin is showing recovery signs, with the price trading above $2.08.
If the recovery momentum is maintained, XRP could continue to move up and challenge the next key resistance zone at $2.35.
BiXRP/USDT daily chart | Source: TradingView
The RSI indicator is currently at 41, having just bounced from the oversold region last week, indicating that selling pressure is weakening and reinforcing expectations for a more sustained recovery.
Conversely, if the correction trend returns, XRP could once again retreat to test the $1.82 bottom recorded last Friday.
SN_Nour
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