Bitcoin price hovered near $89,300 on Wednesday after extending gains from a 7.48% correction last week, trading above the midpoint of a horizontal channel at $87,787. If the $87,787 level continues to hold as support, BTC could extend the rally toward the upper boundary near $90,000. The daily RSI sits around 45, with MACD lines converging, indicating fading bearish momentum and room for a continued recovery.
Ethereum is approaching a key resistance zone around $3,017, having risen about 7.62% this week following a 14.22% correction the previous week. A daily close above the $3,017 resistance and the 50-day EMA at $3,101 could spark a move toward the January 14 high near $3,402. However, a pullback could extend toward the 61.8% Fibonacci retracement at $2,749 if selling accelerates.
Ripple (XRP) rebounded after testing the $1.83 daily level, trading around $1.90 on Wednesday. If the $1.83 support holds, the next daily resistance sits near $1.96, potentially opening the path toward the higher end of the recent range. A drop below $1.83 would target the December 19 low around $1.77, with RSI near 42 and MACD signaling continued bearish pressure.
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