Bitcoin Stabilizes Near $64K as Ethereum and XRP Face Resistance
Bitcoin is trading near $64,391 on Wednesday after showing early signs of stabilization. It has gained 2.9% and closed above key resistance earlier this week.
The price remains constrained by a thick zone of resistance overhead, including the 100-day Exponential Moving Average (EMA) at $66,334 and the horizontal resistance level at $66,500.
The Relative Strength Index (RSI) stands at 52, indicating a slightly positive bias. The Moving Average Convergence Divergence (MACD) line is above its signal line and back in positive territory, suggesting rebuilding upside pressure.
Ethereum, on the other hand, continues to trade sideways near $1,919. It's holding above the 50-day EMA at $1,871 but remains capped beneath the 100-day EMA at $1,918 and the 200-day EMA at $2,115.
XRP is attempting a mild recovery as it trades close to the psychological $1 mark. However, price action reflects a bearish near-term structure as it remains below all three major EMAs.