Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP show signs of recovery

• Bitcoin price is nearing its key resistance of $106,400; a firm close above suggests a recovery is on the cards.

• Ethereum bounces off its 200-day EMA, indicating strong support and potential for further upside.

• XRP is nearing its key resistance at $2.27; a daily close above could catalyze a recovery trend.

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are showing signs of recovery after a period of consolidation and bearish pressure. BTC, ETH and XRP prices rebound slightly, approaching their key resistance levels; a daily close above could open the door for further upside.

Bitcoin price could revive rally if it closes above $106,400

Bitcoin price declined and closed below its daily level of $106,406 last week. However, it recovered slightly during the weekend and also on Monday. BTC faced resistance again around the $106,406 level the next day. At the time of writing on Wednesday, it recovers slightly, approaching this resistance level.

If BTC recovers and closes above $106,406, it could extend the rally toward its all-time high of $111,980.

The Relative Strength Index (RSI) on the daily chart reads 54 and points upwards after rebounding from its neutral level of 50, indicating bullish momentum is gaining traction.

BTC/USDT daily chart

However, if BTC fails to close above the $106,406 daily resistance, it could extend the decline to retest its next key support level at $100,000, a psychological level.

Ethereum price could bounce higher as the 200-day EMA remains strong 

Ethereum price has been consolidating between $2,461 and $2,724, its 200-day EMA and daily resistance levels, respectively, for 26 consecutive days. At the time of writing on Wednesday, it trades slightly above, nearing its upper consolidation level at $2,724.

If ETH breaks and closes above its upper consolidation level at $2,724, it could extend the rally toward its psychologically important level at $3,000.

The RSI on the daily chart reads 62, above its neutral level of 50, indicating bullish momentum.

ETH/USDT daily chart

However, if the 200-day EMA at $2,461 fails to hold as support, ETH could extend the decline to retest its next support level at $2,329, its 50-day EMA.

XRP price could recover if it closes above its 50-day EMA

XRP price closed below its daily support at $2.23 on Friday and declined by 4.65%. However, it recovered from its fall in the next four days. At the time of writing on Wednesday, it is approaching its key resistance at $2.23.

If XRP breaks above the $2.23 level and closes above its 50-day EMA at $2.27, it could extend the recovery to retest its next resistance level at $2.72.

The RSI on the daily chart reads 47 and points upward toward its neutral level of 50, indicating a weakening of bearish momentum.

XRP/USDT daily chart

On the other hand, if XRP faces rejection from its $2.23 level, it could extend the decline to retest its next daily support at $1.96.