• Bitcoin price is consolidating between the $87,000 to $93,000 zone.
• Ethereum price approaches its $3,000 support level; a close below would cause a further correction.
• Ripple price tests its resistance level at $1.13; a firm close above would continue its rally.

Bitcoin (BTC) price remains in a consolidation phase after hitting a new all-time high of $93,265 last week. Ethereum (ETH) price approaches its support level; a close below would result in further price declines, while Ripple (XRP) price shows bullish momentum as it tests and potentially breaks key resistance.

Bitcoin price consolidates between $87,000 and $93,000

Bitcoin Price surged and hit a new all-time high (ATH) of $93,265 on Wednesday. It has since consolidated, with initial support of around $87,000. At the time of writing on Monday, it is trading slightly higher, around $90,500.

If BTC falls below the $87,000 support level, it could lead to further declines to $85,000. A successful close below this level could trigger a larger sell-off to $78,800.

The Relative Strength Index (RSI) also stands at 74, well above its overbought level of 70. It is pointing lower, signaling increasing risk. Traders should exercise caution when adding to their long positions, as an exit from overbought territory by the RSI could provide a clear sign of a pullback.

BTC/USDT daily chart

Conversely, if BTC breaks out and closes above $92,625, the rally could extend to the psychologically important $100,000 level.

Ethereum price expected to fall if it closes below $3,000

Ethereum price was down 8.8% through Sunday after being rejected around the weekly level of $3,454 on Tuesday. On Monday, it traded slightly higher, around $3,100, approaching its psychologically important level of $3,000.

If ETH closes below the $3,000 level, it may decline to retest its 200-day exponential moving average of around $2,799.

The RSI indicator on the daily chart is reading 61 after leaving its overbought level of 70. If the RSI continues its decline and closes below the neutral level of 50, the Ethereum price will decline further.

ETH/USDT daily chart

On the other hand, if ETH breaks through and closes above the weekly resistance at $3,454, it will rally to retest its psychologically important $4,000 level.

Ripple Price Could Extend Rally Above Key Resistance

Ripple Price broke the daily resistance at $0.718 on Thursday and rose 62.5% through Saturday. It fell 5.9% on Sunday as it failed to close above the 50% price retracement at $1.13. On Monday, it traded up 8.8%, topping $1.13.

If XRP closes above $1.13, it could extend the 21% rally to retest its next daily resistance at $1.372.

The RSI read 85, well above its overbought level of 70, signaling increasing risk. Traders should exercise caution when adding to their long positions, as an exit from overbought territory by the RSI could provide a clear sign of a pullback.

XRP/USDT daily chart

However, if XRP fails to close above $1.13, it may refuse to retest its psychologically important $1.00 level.