The cryptocurrency market is showing mixed dynamics: Bitcoin BTC $85,233.19 Bitcoin 0.74% Market capitalization $1.69 trillion VOL. 24 hours $0.62 billion is trying to gain a foothold above a key resistance level, while Ethereum and XRP are showing signs of weakening after recent pullbacks. Analysts point to important technical levels that will determine the future direction of each asset.
Bitcoin’s price has stabilized at $ 83,500 after several failed attempts to break through the 200-day exponential average (EMA) at $ 85,000. This area remains the key to the formation of a new uptrend. If BTC manages to gain a foothold above $ 85,000, the next target will be $ 90,000, and in case of further growth, the peak of March at $ 95,000. However, if the selling pressure intensifies, a decline to $ 78,258 is possible. The RSI indicator is holding near the neutral mark of 50, which indicates market indecision.
Ethereum ETH $1,596.56 Bridged Ether (StarkGate) 0.23% Market capitalization $0.14 billion VOL. 24 hours $0.3 billion continues to decline after repeatedly failing to gain a foothold above the psychological level of $ 1,700. As of Wednesday, ETH is trading around $ 1,590. If the negative trend continues, the price could drop to $ 1,449 and then to $ 1,300. The RSI is at 40, indicating a preponderance of bearish sentiment. A strong close above $ 1,700 is needed to reverse the trend, which could open the way to $ 1,861.
XRP XRP $2.08 XRP -0.11% Market capitalization $121.48 billion VOL. 24 hours $0.13 billion after rising to $ 2.23 has encountered resistance and is currently trading near $ 2.08. If the price falls below the 200-day EMA at $ 1.95, further declines to $ 1.77 are possible. On the other hand, a breakout above $ 2.23 could resume growth to $ 2.50, repeating the high of March 24. The RSI is also below 50, which confirms the predominance of sellers.
The current market situation indicates a phase of uncertainty: BTC is approaching a critical level, while ETH and XRP are showing signs of correction. The coming days may be crucial for the formation of a new momentum in the main crypto assets.