Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) show signs of recovery after a correction earlier this week. BTC finds support around the key $63,300 level, ETH continues to trade sideways, while XRP holds strong above the $1.00 psychological level. The price action of the top three cryptocurrencies suggests a short-term rebound if these key levels continue to hold.
Bitcoin finds support around $62,300
Bitcoin price trades at $63,567 on Friday, after finding support around $62,300 the previous day. Despite holding key support, BTC maintains a bearish bias as it trades below the 50-day, 100-day and 200-day Exponential Moving Averages (EMAs), clustered between roughly $64,488 and $72,035.
This positioning beneath the major trend averages suggests rallies remain capped for now. At the same time, the Relative Strength Index (RSI) around 46 keeps momentum on the softer side, and the Moving Average Convergence Divergence (MACD) stays below zero, reinforcing a downside-leaning tone rather than a directional breakout.
On the topside, immediate resistance appears at the 50-day EMA near $64,488, followed by the 38.2% Fibonacci retracement at about $65,547; the $66,500 horizontal barrier and the 100-day EMA around $66,604 form a broader supply zone before the 50% retracement near $67,940.
On the downside, initial support is seen at the 23.6% Fibonacci retracement around $62,586, ahead of the $62,300 horizontal floor; a break lower would expose the broader base near $57,800, which marks the current cycle low and key structural support.
Ethereum trades sideways between 50-day and 100-day EMAs
Ethereum price trades at $1,890 on Friday. ETH has been trading sideways since mid-July, sits above the 50-day EMA at $1,865, but remains capped beneath the 100-day EMA at $1,922, leaving the near-term bias neutral with a slight upward tilt.
The RSI hovers near 52, hinting at balanced momentum, while the Moving Average Convergence Divergence (MACD) remains below zero, suggesting bullish attempts still face underlying downside pressure despite the recent stabilization above the shorter EMA.
On the topside, initial resistance appears at the 100-day EMA near $1,922, ahead of the horizontal barrier at $2,000 and the more distant 200-day EMA around $2,123, which together define a broader supply zone.
On the downside, immediate support comes from the 50-day EMA at $1,865, with a deeper structural floor only at the horizontal level near $1,385, where buyers would be expected to step in more aggressively if the current consolidation gives way to a sharper correction.
XRP recovers after finding support at $1.00
XRP price trades at $1.013 on Friday, rebounding after finding support around the key $1.000 mark the previous day. Despite the recovery, XRP retains a bearish bias, with the price remaining below the 50-day EMA at $1.087, the 100-day EMA at $1.169, and the 200-day EMA at $1.362.
The alignment of these longer-term EMAs above the market reinforces a capped structure. At the same time, the RSI at 38 hovers below the midline and the MACD remains negative, together hinting at lingering downside pressure rather than a decisive recovery.
On the downside, immediate support is located at the horizontal level near $1.000, where buyers could attempt to slow the current slide.
On the topside, the first resistance is the 50-day EMA at $1.087, followed by the 100-day EMA at $1.169 and the prior horizontal barrier at $1.300, with the 200-day EMA at $1.362 and the more distant resistance at $1.900 marking deeper recovery checkpoints if bulls manage to reclaim the short-term averages.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
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