Crypto Market Slows Down Amid Geopolitical Uncertainty
The cryptocurrency market has been experiencing a slowdown in momentum, with prices trading within a range-bound zone between $62,000 and $66,000. This is largely due to mixed sentiment driven by geopolitical developments and global macroeconomic events, limiting fresh participation in the market.
According to data from ZebPay, Bitcoin's daily chart shows that the RSI (Relative Strength Index) is hovering around the 50 level, indicating present but modest buying momentum. Meanwhile, the Stochastic Oscillator is approaching the overbought zone at 72, suggesting caution around fresh buying in the near term.
Ethereum has been facing strong resistance in the $1,980-$2,030 zone after touching a fresh high of $1,981. Despite this, buyers remain bullish and continue to show buying interest on dips. The RSI is holding above 54, indicating sustained buying momentum, while the Stochastic Oscillator has recovered to 43 from the oversold zone.