Crypto Market Stalls as Bitcoin, Ethereum Struggle at Resistance

The cryptocurrency market has stalled in its recovery efforts, with both Bitcoin and Ethereum losing momentum at resistance levels. Over the past day, the market capitalization has hovered around $2.24 trillion, a relatively stable figure compared to recent highs.

Among the top performers were Hedera (+6%), Uniswap (+4.4%), and Aptos (+3.6%), while Filecoin (-4.9%), Stellar (-2.6%), and Bitcoin Cash (-2.4%) suffered significant losses. The sentiment index has fallen to 31, remaining in 'fear' territory.

Bitcoin retreated to $65.4K, losing ground for the second day in a row after touching its local June highs. This pullback suggests that bears remain in control of prices, preventing the technical rebound from developing into a broader recovery and establishing the 61.8% retracement level of the May, June decline as resistance.

Ethereum also lost momentum near $1,950, failing to break above its former support zone, which has now turned into resistance. A drop below $1,700 would be a worrying sign of a resumption of the downtrend.