Crypto Markets Face Resistance as BTC Stalls Near $80,000
Bitcoin (BTC) has paused near $80,000 after its double-digit rally last week. Despite maintaining its bullish bias, BTC is facing headwinds near the $80,000 psychological threshold.
Ethereum (ETH) holds above $2,400 but struggles to extend its rally above the $2,500 mark. The major altcoin tests the 50% retracement level at $2,476, measured from $3,447 to $1,505.
Ripple (XRP) is down 5% this week and faces downside pressure near the $1.50 psychological threshold. XRP must confirm a breakout above this level with a decisive daily close to reinstate its rally.
The Relative Strength Index (14) for BTC suggests overbought conditions, while Ethereum's RSI at 75 also indicates strong but stretched upside momentum. Meanwhile, Ripple's MACD and signal line remain positive, suggesting that buying pressure is still dominant in the short term.