Key Moments
- Bitcoin (BTC) is trading above $80,762 after a 5% advance in the prior session, maintaining a bullish near-term structure.
- Fed Governor Christopher Waller’s dovish comments cut the implied probability of a September rate hike from nearly 70% to 50%.
- Zcash (ZEC) and Ethena (ENA) continue to outperform, with ZEC recently hitting a record $979 and ENA holding above $0.1600.
Fed Rhetoric Supports Risk Appetite
Bitcoin (BTC) is trading above $80,000 on Friday, with the broader crypto complex reflecting a risk-on tone. Federal Reserve Governor Christopher Waller indicated on Thursday that he could back a pause in interest rate increases at the September policy meeting if August inflation data point to easing price pressures, as previously reported by FXStreet.
These dovish remarks reduced the perceived likelihood of a September rate hike to 50%, down from nearly 70% earlier in the week, according to market-derived pricing referenced in the report.
Bitcoin Technical Setup: Bulls Retain the Upper Hand
Bitcoin is quoted above $80,762 at press time on Thursday, extending a 5% gain from the previous day and preserving a constructive short-term bias. The move higher leaves BTC comfortably above its 50-, 100-, and 200-day Exponential Moving Averages (EMAs), which are clustered between roughly $69,700 and $72,500, reinforcing the prevailing bullish structure.
| BTC Key Technical Levels | Price |
|---|---|
| Current price (approx.) | $80,762 |
| 50-day EMA | $71,122 |
| 100-day EMA | $69,695 |
| 200-day EMA | $72,493 |
| 50% Fibonacci retracement support | $75,233 |
| 78.6% Fibonacci retracement resistance | $87,476 |
| Previous swing high | $97,924 |
The BTC/USD pair is advancing toward the 78.6% Fibonacci retracement of the recent downswing from $97,924 to $57,800, which comes in at $87,476. A decisive break above this area would open the way toward the prior swing high at $97,924.
The Relative Strength Index (RSI) is holding near 71, placing it in overbought territory, while the Moving Average Convergence Divergence (MACD) indicator remains in positive territory with a modestly expanding histogram. This configuration signals strong, though potentially stretched, upside momentum.
On the downside, initial support is located at the 50% retracement level at $75,233. Below that, a broader demand area is defined by the 200-day EMA at $72,493, with the 50-day EMA at $71,122 and the 100-day EMA at $69,695 further underpinning the bullish trend structure.
Zcash Rally Extends Toward $1,000 Mark
Zcash (ZEC) is consolidating gains on Thursday after surging 16% in the previous session to a fresh record high of $979. The privacy-focused token is sustaining a strong upward phase as it edges closer to the psychologically important $1,000 level.
| ZEC Key Technical Levels | Price |
|---|---|
| Record high | $979 |
| 50-day EMA | $651 |
| 100-day EMA | $569 |
| 200-day EMA | $485 |
| Previous swing high | $888 |
| 127.2% Fibonacci extension | $1,058 |
| 161.8% Fibonacci extension | $1,322 |
ZEC is trading well above its 50-day and 100-day EMAs at $651 and $569, respectively, and remains firmly above the longer-term 200-day EMA near $485. The latest leg higher has pushed the token decisively beyond the earlier swing high at $888, with price now aiming at the 127.2% Fibonacci extension level at $1,058, calculated from the $465 to $888 advance. A confirmed move above $1,058 would bring the 161.8% Fibonacci extension at $1,322 into focus.
The RSI is sitting in overbought territory around 74, and the MACD has bounced from its signal line and is extending its ascent. This combination points to robust, but increasingly stretched, upward momentum.
On the downside, initial support is identified around the prior Fibonacci anchor at $888. Below that, a dense support cluster is formed by the 78.6% retracement at $773 and the 50% retracement near $643, with the 50-day EMA at $651 closely aligned with this zone.
Ethena Maintains Breakout Above Key Moving Averages
Ethena (ENA) is holding firm above $0.1600 at press time on Friday, following a 12% rise in the preceding session. The token is trading comfortably above the 50-, 100-, and 200-day EMAs at $0.1185, $0.1090, and $0.1279, respectively, which collectively support a constructive broader trend.
| ENA Key Technical Levels | Price |
|---|---|
| Current price (approx.) | Above $0.1600 |
| 50-day EMA | $0.1185 |
| 100-day EMA | $0.1090 |
| 200-day EMA | $0.1279 |
| 50% Fibonacci retracement support | $0.1356 |
| 78.6% Fibonacci retracement resistance | $0.1982 |
| Previous swing high | $0.2633 |
The 50% retracement of the $0.2633 to $0.0699 decline, located at $0.1356, has been reclaimed and is now acting as a nearby support floor. Overhead, the 78.6% Fibonacci retracement level at $0.1982 is serving as resistance. A confirmed breakout above $0.1982 would put the previous swing high near $0.2633 back in view.
The RSI is hovering around 66, and the MACD line is marginally above its signal line, indicating that upside momentum is still present, although the pace has moderated following the recent sharp advance.
On the downside, initial support is situated around the 50% retracement near $0.1356, followed by the 200-day EMA at approximately $0.1279.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
