Crypto Majors Stabilize as Buyers Test Key Technical Levels

Key Moments

Bitcoin Struggles Below Major Moving Averages

Bitcoin (BTC) continues to claw back lost ground on Friday, trading around $61,300 after bouncing from a 21-month trough at $57,800 earlier in the week. Despite the improvement in risk appetite, the broader technical picture for BTC remains negative as the price stays firmly under its main Exponential Moving Averages (EMAs).

BTC trades decisively beneath the 50-day EMA at $66,010, the 100-day EMA at $69,816, and the 200-day EMA at $75,777, underscoring a dominant bearish setup. The Relative Strength Index (RSI) sits at 43, below the midpoint, reflecting muted buying interest.

The Moving Average Convergence Divergence (MACD) indicator turns positive, with the MACD line positioned above its signal line and above zero. This points to improving momentum, although the strength is still described as insufficient to overcome the overhead supply that has been capping rallies.

On the upside, initial resistance emerges at a horizontal level near $64,004, followed by the 50-day EMA at $66,010, which together form a near-term ceiling for any recovery. Above that, the 100-day EMA at $69,816 and the 200-day EMA at $75,777 act as subsequent resistance layers, before a more distant horizontal level at $84,410 comes into view.

On the downside, if BTC fails to reclaim the $64,000 area, it remains at risk of renewed selling pressure that could force a retest of the key psychological zone around $55,000.

Ethereum Recovery Faces Overhead Supply

Ethereum (ETH) trades near $1,700 on Friday, extending its sharp two-day rebound. Despite the recent climb, the broader trend remains tilted to the downside, with the token still trading well below its major EMAs.

The 50-day EMA stands at $1,807, the 100-day EMA at $1,982, and the 200-day EMA at $2,243, all positioned above the current market level and reinforcing a capped structure. Nevertheless, momentum signals have shown some improvement, with the RSI hovering just below the neutral 50 threshold and the MACD holding above the zero line.

This configuration points to an ongoing recovery attempt rather than a confirmed transition to a new uptrend. For the upside, immediate resistance is identified at the 50-day EMA around $1,807, closely followed by a horizontal barrier near $1,818. Together these form a nearby supply zone, and a clear move through this area would open the way toward the 100-day EMA at approximately $1,983 and the nearby $2,000 round number. Higher still, the 200-day EMA near $2,243 marks a broader bearish cap.

On the downside, a more substantial support level is highlighted at a horizontal area near $1,385. That zone is viewed as the medium-term floor where buyers could attempt to resist deeper losses if the current rebound stalls.

XRP Eyes Breakout from Descending Channel

XRP trades around $1.088 on Friday, stabilizing but still confined within a broader descending channel that keeps the bias negative. The token remains below its major EMAs, underscoring the prevailing downtrend despite the recent attempt to recover.

The 50-day EMA is located at $1.185, the 100-day EMA at $1.293, and the 200-day EMA at $1.504, all acting as resistance layers overhead. The RSI sits close to 43, signaling only a modest rebound in momentum, while the MACD line just above zero points to a tentative corrective phase within a dominant bearish structure.

On the upside, the first notable resistance aligns with the upper boundary of the descending channel, around $1.134. This level is followed by the 50-day EMA at $1.185, where sellers could attempt to regain control. A more robust recovery scenario would depend on a clear break above the 100-day EMA at $1.293 and the adjacent horizontal barrier at $1.300. Only after reclaiming those intermediate levels would the 200-day EMA at $1.504 and a previously outlined resistance zone near $1.900 become relevant.