Bitcoin Stalls Below Key Moving Averages as Ethereum, XRP Trade Mixed
Bitcoin's price remains below its moving averages as it struggles to reclaim key technical zones. On Wednesday, Bitcoin traded around $63,700, staying under its 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). This bearish near-term tone is a sign that broader downside pressure persists despite a bounce from below $63,000.
The Relative Strength Index (RSI) for Bitcoin sits at 47, just under the neutral threshold, indicating muted momentum. The Moving Average Convergence Divergence (MACD) line holds slightly below zero, pointing to a corrective environment rather than strong buying interest.
Ethereum and XRP also showed mixed trading conditions as market participants focused on critical technical zones. Ethereum hovered near $1,885 after rebounding from its 50-day EMA at $1,864, while remaining capped under the 100-day EMA at $1,924.