[DigitalToday reporter Jinju Hong (홍진주)] Ethereum has broken above a downtrend line that had extended for months, showing a technical rebound signal. Bitcoin is retesting a key resistance level, and XRP remains below major moving averages but is holding the $1 support level and appears to be forming a base, an analysis said.

U.Today, a blockchain outlet, reported on Monday that Ethereum recently broke above a downtrend line connecting the $1,750 to $1,800 range and is trading around $1,790.

Ethereum has now reclaimed both the 50-day exponential moving average (EMA), at about $1,740, and the 100-day EMA, at about $1,755. That is seen as a technical signal suggesting a change in the bearish move that began near $2,400 earlier this year.

Momentum is also improving. The relative strength index (RSI) has moved above 53, suggesting buyers are starting to gain the upper hand, but it has not entered overbought territory.

Still, the uptrend is not fully confirmed, the report said. Ethereum faces resistance in the $1,800 to $1,850 range. If it breaks above that band, the next target discussed is around $2,220, where the 200-day EMA sits. U.Today said the trendline break is a technically meaningful change, but a rise in trading volume is needed to view it as a trend reversal.

XRP is still trading below long-term moving averages. It is currently priced at about $1.07, below the 50-day EMA of $1.11, the 100-day EMA of $1.15 and the 200-day EMA of $1.26. In terms of the long-term trend alone, it remains in a bearish structure.

Still, the market has consistently defended the area around $1 since a sharp drop in June. Selling pressure tested the support level several times but failed to set a new low, while buying continued to prevent further declines.

Trading volume also suggests the possibility of a bottom forming. Sell volume is gradually decreasing, but the report said buying is still not strong enough to produce a decisive breakout. U.Today explained that this type of move is a pattern often seen in an accumulation phase.

XRP's RSI is also holding in a neutral zone, moving around 40 to 45 and leaning neither oversold nor overbought. In the short term, reclaiming $1.11, the 50-day EMA, is cited as a key turning point. If it moves above that, the $1.15 to $1.20 range becomes the next resistance, followed by the 200-day EMA at $1.26 as the biggest technical barrier.

Bitcoin is also extending its rebound. After bouncing from a low around $58,000, it has recovered to the $63,000 to $64,000 range and is trading just below a key resistance level. The nearest resistance is about $64,600, where the 50-day EMA sits. Bitcoin has tested this zone several times in recent weeks but has not broken above it on a closing basis.

Still, the technical picture is seen as improved compared with before. Since the June low, highs have fallen but lows have risen, showing a move close to an ascending triangle. That means buyers are consistently coming in at lower price levels. The RSI has also recovered from oversold levels to around the neutral line of 50, and bearish pressure that persisted through June is seen as easing.

U.Today said Bitcoin now looks less like it is being pushed down by strong resistance and more like it is in a phase of accumulating energy just below the resistance line.

If it breaks above the $64,500 to $65,000 range on a closing basis, market sentiment could improve sharply, and $68,000 was presented as the next target price. Volume remains a factor that still needs confirmation. Trading volume in the recent rebound is still insufficient compared with the large sell volume seen during the sharp June drop. Even if it clears the 50-day EMA, the 100-day EMA around $68,600 and the 200-day EMA at $74,700 remain as resistance levels in turn.

U.Today said short-term technical indicators are improving for Ethereum, XRP and Bitcoin, but a clear break of key resistance levels along with rising volume is needed to be confident of a trend reversal.