Crypto Today: Bitcoin, Ethereum, XRP remain higher following a brief rebound

• Above $83,000, Bitcoin’s recovery picks up pace as buyers gradually regain ground.
• A firm cluster of medium- to long-term moving averages supports Ethereum’s modest advance.
• As XRP approaches $1.35, buyers strengthen their hold in an effort to maintain control of the trend.

Bitcoin (BTC) is trading above $83,000 on Wednesday as cryptocurrency prices advance across the market. Leading altcoins Ethereum (ETH) and Ripple (XRP) share the positive tone. At $2,455, ETH, the largest smart contract token, is on course for a second consecutive daily rise, while XRP edges up towards $1.35.

In its weekly Ahead of The Curve report, K33 Research observed: “Bitcoin spent another week in tight consolidation with shrinking volumes, soft derivatives activity and narrowing volatility,” adding, “Price kept drifting lower and briefly dipped below $80,000 on Thursday as equities sold off on a hot Consumer Price Index (CPI) print and a steep semiconductor sell-off.”

Risk appetite holds firm

Wednesday’s Fear & Greed Index reading of 63, up from 55 a day earlier, places sentiment in Greed territory and points to sustained appetite for digital assets. Investors therefore appear prepared to assume greater risk in anticipation of a renewed uptrend, despite the macroeconomic headwinds facing the wider cryptocurrency market.

Tuesday brought $23 million of inflows into Bitcoin spot exchange-traded funds (ETFs), markedly below Monday’s $527 million. Capital flows were mixed, according to SoSoValue data: Ethereum spot ETFs saw $26 million of outflows on Tuesday, prolonging a bearish run to five days.

Activity in XRP spot ETFs has been uneven, with outflows of $105,000 and $2.5 million on Thursday and Friday last week, respectively, followed by used activity on Monday and Tuesday.

The K33 report also noted: “Low participation remains the dominant theme, and we still view this regime as similar to the dormant 2023 recovery,”

Technical analysis: Bitcoin extends its advance

At $83,187, Bitcoin retains a bullish short-term bias, with the price remaining above its key exponential moving averages (EMAs). Below the spot price sit the 50-day EMA around $80,780, the 100-day EMA near $77,343 and the 200-day EMA near $76,098. Together, they point to an underlying uptrend, further supported by the SuperTrend line at about $79,664.

The momentum picture is less clear-cut. While a Relative Strength Index (RSI) reading above 53 suggests modest buying pressure, the Moving Average Convergence Divergence (MACD) remains negative. This indicates that the advance is still gradual rather than forceful.

The 50-day EMA at $80,780 offers the first area of support, ahead of a secondary floor at the $79,664 SuperTrend level should the pullback deepen. Further down, the 100-day EMA at $77,343 and the 200-day EMA at $76,098 make up a wider demand zone, where buyers would be expected to emerge during a more substantial correction.

The daily chart identifies no immediate indicator-based resistance overhead, leaving price action itself as the likely driver of further gains. A continued hold above this layered EMA support area, accompanied by a stabilising MACD and a steadily rising RSI, would signal a more sustained advance.

Altcoin technical outlook: Ethereum and XRP prepare to renew their uptrends

Trading at $2,455, Ethereum remains between its key moving averages. The 100-day and 200-day EMAs at $2,363 and $2,307 continue to support the broader positive structure, while the 50-day EMA at $2,481 and the SuperTrend line at $2,676 limit the upside. With medium-term support holding but the price struggling to recover above short-term trend resistance, the near-term bias is neutral to slightly bearish.

An RSI reading near a neutral 44 and a MACD below zero reinforce the lack of a clear direction. Unless Ethereum breaks decisively above the 50-day EMA, attempts to advance could encounter selling pressure.

Standing in the way of a stronger recovery is immediate resistance at the 50-day EMA of $2,481, followed by the more substantial SuperTrend barrier near $2,676. Support initially comes from the 100-day EMA at $2,363, ahead of the deeper structural floor around the 200-day EMA at $2,307. A daily close beneath the latter would materially undermine the bullish undertone of the broader trend and leave the pair vulnerable to further losses.

At $1.34, XRP also faces near-term constraints, trading beneath the 50-day and 200-day EMAs around $1.38. Although the pair has recovered the 100-day EMA at $1.34 as immediate support, its broader structure remains limited by the descending resistance trend line near $1.70 and the SuperTrend line at $1.47.

With the MACD still registering a negative reading below zero and the RSI around 44, momentum reflects these constraints. Buying pressure appears muted, rather than signalling a decisive bullish reversal.

The first hurdle is the 50-day EMA at $1.38, closely followed by the 200-day EMA at $1.38. This narrow resistance cluster needs to be overcome before a move towards the SuperTrend resistance at $1.47 and, ultimately, the broader descending trendline barrier above that area becomes possible.

The 100-day EMA at $1.34 provides the nearest support on the downside. Closing below it on a daily basis would open the way to deeper consolidation and strengthen the bearish bias, so long as the price remains below the higher EMAs and the prevailing downtrend line.

(The technical analysis of this story was written with the help of an AI tool. Know more.)