Bitcoin Struggles at $80k Sell Wall as Injective and Aerodrome Rally

Bitcoin (BTC) has been hovering around $79,000 on Tuesday, struggling to break above the sell wall between $80,000 and $82,850. Despite this resistance, the broader cryptocurrency market sentiment remains bullish, with a Fear and Greed Index reading of 73.

The King Crypto trades well above its 50-, 100- and 200-day Exponential Moving Averages (EMAs), which are clustered between roughly $70,400 and $72,800. This forms a key support zone for Bitcoin.

However, the Moving Average Convergence Divergence (MACD) crosses below its signal line on the daily chart, suggesting that upside momentum is moderating. The Relative Strength Index (RSI) at 63 shows a downward slope as it exits the overbought zone, reaffirming reduced bullish pressure.

Injective (INJ) and Aerodrome Finance (AERO) have posted double-digit gains over the last 24 hours. Injective is up 6% on Tuesday, extending its 16% rise from the previous day. It holds well above its 50-day EMA at $5.02 and 200-day EMA at $5.04.

Aerodrome Finance has also rallied, with a nearly 5% gain on Tuesday, advancing its 11% jump from the previous day. AERO maintains a constructive bullish bias above its 50-, 100- and 200-day EMAs.