Cryptocurrency Market Sees Mixed Results as Iran-Oman Deal Looms
The cryptocurrency market is showing mixed results on Thursday, with Bitcoin and Ethereum experiencing slight gains. Meanwhile, Ripple's price continues to decline.
The potential deal between Iran and Oman regarding shipping through the Strait of Hormuz has left investors uncertain about its impact on the global economy. Despite some optimism from US Vice President JD Vance that negotiations may lead to a breakthrough, Iranian Deputy Foreign Minister Kazem Gharibabadi emphasized that any agreement would not necessarily guarantee the immediate reopening of the waterway.
BTC is trading above $64,673 and the reclaimed downtrend resistance trendline around $63,514. However, it remains capped by the Parabolic SAR at $65,404. The Relative Strength Index (RSI) is hovering near 54, suggesting moderate bullish momentum.
Ethereum is holding above the 50-day EMA at $1,856 and the broken rising trendline support near $1,859. However, it remains capped beneath the 100-day EMA at $1,925 and the 200-day EMA at $2,134. The RSI around 56 suggests moderate bullish momentum.