Analysts predict: Bitcoin hits 120,000 USD, XRP target 3.4 USD

On September 19, the Crypto Assets market experienced a significant breakthrough, with Bitcoin's price surpassing $117,000, as long positions target the psychological barrier of $120,000; Ethereum remains stable above $4,600, poised for action; Ripple (XRP) successfully broke through the falling wedge pattern, opening the door for a new wave of increases. Technical indicators show that the three major mainstream Crypto Assets have completed the confirmation of key support levels, preparing to welcome a new wave of upward momentum.

Bitcoin: Breaks 117,000 USD, longs target the psychological barrier of 120,000 USD

(Source: Trading View)

Bitcoin (BTC) price surpassed $117,000 on September 19, continuing the upward trend since breaking above the 50-day Exponential Moving Average (EMA) on September 10. Over the next six days, BTC increased by 2.43%. Although there was a slight pullback on September 17, Bitcoin quickly found support around $116,000 and then rebounded again.

Technical indicators show strong bullish momentum for Bitcoin:

· The Relative Strength Index (RSI) on the daily chart is 61, stable above the midline.

· The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover on September 6, and the signal remains valid.

· The price is stable above the support level of $116,000

If BTC continues to maintain its upward momentum, it may sustain the pump until it reaches the psychological level of $120,000. However, if it retraces and closes below the support level of $116,000, it may extend the downtrend to the 50-day exponential moving average of $113,924.

Ethereum: Maintain Key Support, Targeting Historical High of 4,956 USD

(Source: Trading View)

Ethereum (ETH) rebounded from a key support level earlier this week and is currently stabilizing above $4,600. On September 12, the ETH price broke through the consolidation range of $4,488, rising by 5.68%. Although it subsequently pulled back by 4.53% over the next four days, it successfully rebounded 1.98% from the $4,488 support level on Wednesday and is currently continuing to stabilize above $4,500.

Technical analysis shows:

The RSI on the daily chart is at 57, stabilizing above the midpoint, reflecting a slight bullish momentum.

· The MACD line is converging, indicating that traders are showing some hesitation.

· The support level of 4,488 USD has successfully held, laying the foundation for further pumping.

If the support level of $4,488 continues to hold, ETH may extend its pump towards the historic high of $4,956. However, if it closes below $4,488, the decline could extend to the lower limit of $4,232, which aligns with the 50-day EMA.

XRP: Falling wedge breakout confirmed, target 3.40 USD

(Source: Trading View)

The price of Ripple (XRP) successfully rebounded after retesting a key level, opening the door for a potential new round of bullish momentum. XRP broke out of a falling wedge pattern on September 11 (formed by two trend lines connecting multiple highs and lows since mid-July), and this technical breakout strongly suggests a bullish outlook.

XRP pumped 2.5% within two days after the breakout. Although it fell 3.4% on Monday, retesting the breakout point near $2.99, it rebounded 3% in the following two days and is currently stable around $3.06.

Technical indicators support a bullish outlook:

· The RSI on the daily chart is 55, above the neutral level of 50.

· The MACD indicator shows a bullish crossover, similar to Bitcoin.

· Successfully holding the retest of the falling wedge breakout position

If XRP continues to maintain its upward momentum, its rally may extend to the daily resistance level of $3.40. On the other hand, if it faces a correction, the downward trend may extend to the 50-day EMA of $2.95.