Breaking: Bitcoin stages a comeback, topping $8,000, Ethereum, Ripple follow

Yohay Elam FXStreet

BTC/USD is has topped $8,000, surging some 5% on the day from a low close to $7,500.

On its way up, Bitcoin has broken resistance at $7,870 and is eyeing the next levels. Here is what Tomas Salles explains in his analysis:

Above the current price, the first resistance level is at $7,870 (price congestion resistance), then the second resistance level is at $8,025 (price congestion resistance). The third resistance level for the BTC/USD pair is at $8,175 (price congestion resistance and long term down channel trendline ceiling).

Other cryptocurrencies are following. Ethereum is trading around $242 and XRP is getting close to $0.40.

Here is the move on the BTC/USD 15-minute chart:

There has been no clear trigger for the recent surge that follows the downward correction. Some have attributed the slide to the improving sentiment in stock markets – the US and Mexico reached an accord that results in no new US tariffs.

Zooming out from intraday moves, cryptos have been trading in a broad range after the sharp rises seen in April and in May.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

Ripple Price Forecast: XRP recovery dims as demand cools

Ripple (XRP) maintains narrow range trading on Monday, with support at $1.10. The token's upside remains largely constrained, as major moving averages trend downward, aligning with low demand in both the institutional and retail markets.

Crypto Today: Bitcoin, Ethereum, XRP hold key support as US and Iran agree to halt strikes

Bitcoin (BTC) maintains a neutral-to-bullish outlook, trading above $65,000 on Monday. Ethereum (ETH) is approaching the key supply and inflection point $2,000, while Ripple (XRP) hovers slightly above $1.10, underscoring a marginal improvement in the broader cryptocurrency market sentiment.

Shiba Inu Price Forecast: The three factors driving SHIB's mystery rally

Shiba Inu (SHIB) price is down 3% on Monday, reflecting a potential profit-driven pullback after rising over 25% over the last two days. The mystery rally in SHIB has outpaced the minor recovery seen in other meme coins, with data suggesting it is linked to supply burns, the Korean market demand, and ecosystem expansion.

Bitcoin options traders are dropping their hedges going into the Fed meeting

Bitcoin's options market has turned notably less defensive over the past month, unwinding the downside protection traders built up in June just as the Federal Reserve prepares to meet.

Bitcoin: BTC holds firm, but the $100 Oil threat could change the game

Bitcoin (BTC) is modestly recovering, trading at $65,400 on Friday and holding firmly above the key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) supported BTC’s modest recovery as they continued to attract institutional inflows through Thursday, pointing to the third consecutive week of inflows.