• Bitcoin price extends gains, trading above $77,000 on Wednesday, up over 4% so far this week.
• Ethereum nears the 100-day EMA at $2,353, a firm close above this level suggests further gains.
• XRP closes above the 50-day EMA at $1.41, hinting at an upside move ahead. 

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) continue to extend gains on Wednesday despite lingering uncertainty surrounding the second round of US-Iran peace talks. BTC trades above $77,000, while ETH approaches key resistance and XRP closes above crucial resistance, signaling potential upside for these top three cryptocurrencies.

Bitcoin trades above $77,000 as bulls gain strength

Bitcoin price is trading above $77,500 on Wednesday, extending its advance within the upward parallel channel and maintaining a clear bullish near-term bias, as it sits above the 50-day and 100-day Exponential Moving Averages (EMAs) at $72,325 and $75,401, respectively. 

BTC has also reclaimed the 38.2% Fibonacci retracement at $74,487 as support while momentum remains constructive, with the Relative Strength Index (RSI) on the daily chart near 64 and the Moving Average Convergence Divergence (MACD) staying in positive territory, hinting that buyers retain control while the longer-term 200-day EMA at $82,455 still looms overhead as a medium-term cap.

On the topside, immediate resistance lies at the 50% retracement at $78,962, ahead of the psychological $80,000 level and the 200-day EMA at $82,455; above there, the 61.8% retracement at $83,437 and the horizontal barrier at $84,410 form a broader supply zone reinforced by the descending trendline resistance. 

On the downside, initial support lies around the prior channel top at $75,680, followed by the 100-day EMA at $75,401 and the 38.2% Fibonacci level at $74,487, with deeper protection from the 50-day EMA at $72,325 and the lower channel boundary near $62,950.

Ethereum could extend gains if it closes above the 100-day EMA

Ethereum price is trading above $2,360 on Wednesday after surging over 4% so far this week.

ETH holds a mildly constructive short-term tone as it trades above the 50-day EMA at $2,221 and nears the 100-day EMA at $2,353.

However, upside momentum looks constrained with price approaching the 38.2% Fibonacci retracement of the latest swing at $2,380, while the RSI on the daily chart is near 59 and MACD remains in positive territory, hinting at steady but not overstretched bullish pressure.

On the topside, immediate resistance is located at the 100-day EMA at $2,353, followed by the 38.2% Fibonacci retracement at $2,380.04; a daily close above this level would expose the mid-range Fibonacci cluster around the 50% retracement at $2,575, followed by the 200-day EMA at $2,581, before the 61.8% retracement at $2,770. 

On the downside, initial support is provided by the 50-day EMA at $2,221; a break below there could see sellers reassert control toward the former channel resistance, now acting as support near $2,148, and the 23.6% retracement at $2,138, ahead of the channel floor at $1,747.

XRP could extend gains as it closes above the 50-day EMA

XRP price is trading above $1.44 after closing above the 50-day EMA at $1.41, keeping a mildly constructive short-term bias, but it remains capped beneath the higher 100-day EMA at $1.53 and the broader downtrend channel ceiling near $1.64. 

The RSI on the daily chart around 58 suggests improving momentum but not yet overbought, while the positive MACD histogram near 0.010 hints that bulls retain the upper hand as long as price stays above the nearby moving average support.

On the topside, initial resistance is located at the 100-day EMA at $1.53, ahead of the descending channel top around $1.64; a sustained break above these levels would open the way toward the 200-day EMA at $1.77 and the more distant horizontal barrier at $1.90.

On the downside, the immediate pivot in the current session is around $1.44, followed by dynamic support at the 50-day EMA at $1.41; a break of this zone could trigger a deeper pullback toward the horizontal floor at $1.30, with the channel bottom near $0.83 acting as a last-ditch medium-term support.

(The technical analysis of this story was written with the help of an AI tool.)