Bitcoin Near $74K as Ethereum and XRP Extend Rally

• Bitcoin approaches $74,000 resistance after a seven-day rally of about 9%.
• Ethereum confirms a breakout above $2,200 while XRP clears the $1.42 resistance level.
• Bitcoin and Ethereum ETFs recorded notable inflows over the past three weeks.

Bitcoin is trading above $73,800 after a weeklong rally lifted the broader crypto market. Ethereum and XRP also recorded gains as technical momentum improved. Traders are watching key resistance levels and recent ETF inflows for signals on the next move. How far are they from their all-time highs? 

Bitcoin Tests Key Resistance After Weeklong Rally

Bitcoin extended its recovery on Monday, briefly moving above the $74,000 resistance level before pulling back slightly. The asset has gained roughly 9% over the past week as market sentiment improved. 

Technical indicators point to strengthening momentum. The relative strength index (RSI) has moved above the midrange, while the moving average convergence/divergence (MACD) remains in positive territory. These signals suggest increasing buying pressure after several weeks of consolidation.

Bitcoin is also forming an ascending triangle pattern on the daily chart. This pattern often appears before a potential breakout when prices approach a horizontal resistance line.

Immediate resistance sits near $74,000 and above the 50-day exponential moving average. A sustained close above that level could open the path toward $85,000, according to several technical models.

On the downside, initial support appears near $71,000. Stronger support sits near $68,000, which aligns with the lower boundary of the current technical structure.

Despite this recent movement, Bitcoin is trading significantly below its all-time high. At this current price, Bitcoin needs a 64.8% rally to reach the October 6 high above $126,000

Ethereum Breaks Out of Channel Structure

Ethereum also strengthened during the recent rally. The second-largest cryptocurrency climbed above $2,266 and closed above the upper boundary of a descending channel that had capped prices in recent weeks.

Notably, Ethereum saw a 7.7% uptick in the past day, extending its weekly gain to 12.8%. Unlike Bitcoin, trading at a loss on a yearly timeframe,  Ethereum is up by 17.6% in the same period. 

Technical indicators support the shift. The daily RSI has recovered to the high-63 range after previously falling below 30. The MACD indicator has also formed a bullish crossover, showing strengthening upward pressure. These indicators point to buy signals. 

Key resistance now sits near $2,320. If Ethereum clears these levels, analysts say the next technical target could approach the $2,380 zone. Meanwhile, support levels remain near $2,150 and $2,100. A move below these areas could weaken the current momentum.

Ethereum reached its all-time high just seven months ago, peaking at $4,953. The current price is now 52.3% from this high. In other words, ETH could need to stage more than a 2X price surge to set a new peak.

XRP Holds Breakout Above Key Resistance

XRP also recorded gains after breaking above an important technical barrier. The token rose from about $1.41 to roughly $1.47 after clearing the $1.426 resistance level that had limited previous rallies. With a 5% increase in the past day, XRP is now up by 9.9% in the past week. 

Short-term charts now show a series of higher lows forming above the former resistance zone. This pattern suggests buyers are attempting to turn the previous ceiling into support. Technical indicators support the improvement. The daily RSI has moved above 50, while the MACD indicator remains positive.

Traders are watching whether XRP can hold the $1.43 to $1.44 support zone. If the level holds, analysts see potential for a move toward $1.50 and possibly $1.55.

XRP’s all-time high remains at $3.84, recorded in January 2018. Among these tokens, XRP has the highest hurdle to reach its previous peak, at 160%. 

ETF Flows Support Market Sentiment

Institutional flows through exchange-traded funds have also influenced recent market sentiment.

Spot Bitcoin ETFs have recorded steady inflows over the past three weeks. The most recent week alone saw roughly $767 million in net inflows, with funds managed by BlackRock and Fidelity leading the activity. Grayscale’s GBTC continued to record periodic outflows.

Ethereum ETFs have also attracted new capital. Data shows the funds posted about $161 million in net inflows during the week of March 9 to March 13. Fidelity’s FETH recorded the largest inflow during that period, while the Grayscale Ethereum Trust saw moderate outflows.

XRP ETF products showed a different trend. The funds recorded a net outflow of roughly $28 million during the same week, though cumulative inflows since launch remain above $1.2 billion.

Notably, the broader crypto market capitalization has climbed to about $2.59 trillion as digital assets recover from recent declines. Analysts say upcoming macroeconomic signals, including policy guidance from the Federal Reserve, could influence whether the current rally continues in the weeks ahead.

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