Bitcoin Targets $85K as Ethereum, XRP Test Levels

Key Moments

Bitcoin Price Framework: Strong Support Base Below Market

Bitcoin (BTC) continues to extend its recovery on Wednesday, changing hands at $83,480 and pushing toward the $85,000 resistance level as buyers attempt to reassert control after a period of weakness.

BTC remains above its main Exponential Moving Averages (EMAs), reinforcing a constructive technical backdrop. The 50-day EMA is at $80,369, the 100-day EMA is at $76,641, and the 200-day EMA is at $75,685. The grouping of these key averages below spot price suggests that the broader uptrend retains solid support.

Momentum indicators are more measured. The Relative Strength Index (RSI) sits around 53, indicating neutral-to-positive momentum rather than an overstretched condition. The Moving Average Convergence Divergence (MACD) is still below the zero line, with the negative line at -445.81, implying that bullish forces are cooling after the latest advance instead of accelerating sharply.

On the upside, price faces a critical horizontal resistance near $85,000. A clear and sustained break above this ceiling would likely pave the way for a push toward new highs.

On the downside, the first notable support lies at the 50-day EMA at $80,369. Additional layers of support are found at the 100-day EMA at $76,641 and the 200-day EMA at $75,685. These levels are expected to draw dip-buying interest as long as the prevailing bullish structure is intact.

BTC/USDT daily chart

Ethereum Price Analysis: Holding Above EMAs After $2,400 Support Test

Ethereum (ETH) trades at $2,509 on Wednesday after rebounding from support near the $2,400 area. Price remains above key EMAs and a previously broken trendline, which together maintain a cautiously positive short-term bias.

The 50-day EMA at $2,501 sits just below the market and provides immediate support. Additional underlying demand is indicated by the 100-day EMA at $2,355 and the 200-day EMA at $2,309, forming a layered support zone beneath spot.

Despite this supportive structure, momentum remains muted. The RSI fluctuates near 44, reflecting a neutral stance with no clear directional conviction. The MACD line is also well below the zero level, pointing to fragile upside traction even as ETH holds above its EMA cluster.

On the downside, first support is aligned with the 50-day EMA around $2,501. Below that, a short-term horizontal base emerges close to $2,400. The previously broken but still relevant rising trendline sits around $2,256, ahead of a more distant structural floor at $1,823.

On the topside, the next meaningful resistance stands near $2,770, marked by a horizontal barrier. Bulls would need to clear this supply zone to solidify a more decisive recovery. Failure to break above $2,770 would likely keep ETH confined to a consolidation phase above its daily EMA cluster rather than establishing a clearer bullish continuation pattern.