Crypto Markets Steady as Truce Lifts Risk Appetite

Key Moments

Macro Backdrop Supports Stabilization

The broader digital asset market remains resilient on Thursday, with Bitcoin (BTC) holding above $74,000 and Ethereum (ETH) trading north of $2,350 at press time. Ripple (XRP) is also stable at $1.40. Market sentiment has improved following a Bloomberg report indicating that US and Iranian officials are considering prolonging a two-week truce to allow further negotiations.

The shift in tone around geopolitical headlines is helping to alleviate prior risk-off pressure, allowing major cryptocurrencies to consolidate recent levels rather than extend declines.

Sentiment and Leverage Positioning

Data from CoinMarketCap shows the Fear and Greed Index at 55 on Thursday, pointing to a neutral risk stance that is edging toward 60, a level that would indicate a return of greed among market participants.

In derivatives markets, leveraged positioning has been shaken out. Over the last 24 hours, total liquidations reached $217 million, with short positions accounting for $142 million of that amount. This skew toward short liquidations indicates that bearish traders have borne the brunt of the recent move.

Chiliz (CHZ): Rebound Above Key Moving Averages

Chiliz (CHZ) is sustaining a constructive technical posture after reclaiming the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which are clustered just under $0.0390. Regaining this EMA stack suggests that demand has started to rebuild following the latest pullback.

The Relative Strength Index (RSI) stands at 59, which remains in supportive territory without yet signaling overbought conditions. At the same time, the Moving Average Convergence Divergence (MACD) indicator has moved back above its signal line, pointing to a revival in upside momentum.

On the topside, the first key barrier is the 50% retracement level at $0.04462. A daily close above this threshold would clear the way for a move toward the 78.6% retracement at $0.05501.

On the downside, the 200-day EMA at $0.03932 offers initial support, reinforced by the nearby 100-day EMA at $0.03915. These levels currently define the immediate floor for the prevailing bullish structure.

Morpho (MORPHO): Bullish Structure Above Trend Supports

Morpho (MORPHO) is trading above $1.8000 at press time on Thursday, extending its recent advance. The token remains comfortably above its 50-day EMA at $1.6650 and 100-day EMA at $1.5653, preserving a bullish near-term setup as these moving averages act as underlying trend support.

Momentum indicators corroborate this constructive outlook. The Relative Strength Index is hovering near 61, while the MACD is in positive territory, signaling that buying interest continues to dominate as long as price holds above these trend lines.

On the upside, the R1 Pivot Point at $1.9393 marks the initial resistance, protecting the path toward the R2 Pivot Point at $2.3396. Sustained strength above these levels would be required to further extend the current leg higher.

On the downside, the first technical support is the 50-day EMA around $1.6650, where any pullback may attract early dip buyers. A deeper decline would bring the 100-day EMA at $1.5653 into view as the next critical support zone. A break below this level would significantly undermine the existing bullish tone and could usher in a broader corrective phase.