Crypto markets opened the new weekly candle on a steadier note as Bitcoin, Ethereum and XRP showed signs of stabilization after a rocky previous session.
After last week’s declines — Bitcoin down nearly 4%, Ethereum about 2% and XRP roughly 6% — all three major assets have steadied. Bitcoin is holding above the $64,000 mark, Ethereum is sitting on the critical $1,700 support level, and XRP is consolidating near $1.13. Traders are watching technicals closely to see if this calm can evolve into a broader recovery.
Bitcoin’s technical picture remains cautious
Bitcoin is trading around $64,000 but remains under pressure from key moving averages. BTC sits below its 50-day EMA (~$69,106), 100-day EMA (~$72,123) and 200-day EMA (~$77,748), signaling that sellers still exert control over the larger trend. The pullback also included a break below a previously rising support trendline, which now acts as resistance near $74,238 — reinforcing the view that Bitcoin is in a corrective phase.
That said, some indicators hint that selling momentum is easing. The RSI has bounced off deeply oversold territory and now trades in the high-40s, indicating reduced selling pressure though not yet a clear bullish reversal. The MACD remains in positive territory, which offers some support to prices.
What traders are watching
- Upside: Bitcoin needs to reclaim the 50-day EMA (~$69,106), then the 100-day (~$72,123) and 200-day (~$77,748) to shift the outlook back toward bullish momentum. Clearing these levels would materially improve the technical picture and could mark an end to the current correction.
- Downside: Immediate support sits near $64,005. A decisive break below this area would open the door to further losses and an extension of the downtrend.
Bottom line: The market is showing tentative stability after last week’s pullback, but Bitcoin will need to overcome key resistance zones to confirm a broader rebound. Traders should monitor the $64,000 support and the EMA resistance levels for clues on the next directional move.
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