After a lively run last week, the crypto market opened Monday on a steadier footing. Bitcoin, up more than 6% over the past week, is now hovering around $63,500. Ethereum has surged over 13% and is pressing right up against its 50-day EMA, while XRP has rallied more than 10% and pushed above the upper boundary of the falling channel that had boxed it in. The overall picture is improving, but all three majors are still fighting under a stack of technical obstacles.
The key thing to understand is that even though the recent bounce looks encouraging, the underlying structure remains tilted to the downside. Prices are trading below layers of moving averages that keep pressing down on every rally attempt. That is exactly why this recovery is being read as measured and still constrained rather than the start of a full reversal.
Bitcoin needs to crack the $64,004 wall
For Bitcoin, the nearest ceiling is the horizontal level around $64,004. Just above it, the 50-day EMA near $65,763 adds to overhead supply. Further up, the 100-day EMA near $69,469 and the 200-day EMA near $75,427 reinforce a broader bearish structure. What makes it interesting is that momentum signals are modestly positive despite all this: the RSI sits around 51 and the MACD is firmly in positive territory, hinting at improving but still restrained momentum.
If Bitcoin can break above the nearby $64,004 resistance, the door opens toward the 50-day EMA at $65,763. From there the path runs to the 100-period EMA at $69,469 and the 200-day EMA at $75,427. Only after clearing all of these does the more distant horizontal barrier around $84,410 come into focus.
The downside picture is a little worrying. The available data shows no clearly defined nearby supports. That means if renewed selling breaks below $63,554, there is no pre-identified structural floor to catch buyers. In that case, dip-buying would rely on emerging price action and older, lower historical lows rather than on any ready-made support.
Ethereum: a tug of war at the 50-day EMA
Ethereum is trading at $1,784 on Monday after jumping more than 13% in the previous week. Even so, its bias stays bearish because it remains below a stack of key EMAs. It is capped first by the 50-day EMA near $1,806, with the 100-day EMA around $1,972 and the 200-day EMA near $2,241 deepening the overhead supply zone.
Momentum, however, is clearly improving. The RSI is hovering near 57 and the MACD is firmly positive. That suggests upside attempts may continue, but as long as these EMAs sit above spot, every rally is likely to struggle.
On the topside, the first hurdle is the 50-day EMA around $1,806, followed by the 100-day EMA near $1,972 and the psychological horizontal barrier at $2,000. Only after those does the 200-day EMA up toward $2,242 come into view. On the downside, the nearest meaningful structural support is the horizontal level around $1,385, where buyers previously emerged. Any slide toward that zone would test the resolve of this nascent recovery.
XRP: out of the falling channel, but the big trend is still down
XRP is trading at $1.148 on Monday. In the previous week it rallied more than 10% and managed to break above the upper boundary of the falling channel that had trapped it. Despite that, its broader configuration remains bearish. Price is holding below the 50-day, 100-day and 200-day EMAs, clustered roughly between $1.180 and $1.500. That cluster keeps the medium-term trend capped even after a modest rebound from recent lows.
Here too, momentum is improving. The RSI is hovering just above the 50 line and the MACD is in positive territory. That points to a corrective recovery playing out within a still-dominant downside structure.
On the topside, the first resistance aligns with the 50-day EMA near $1.183, followed by the 100-day EMA around $1.286 and the horizontal barrier at $1.300. Above that, the 200-day EMA near $1.495 and the prior resistance line around $1.900 reinforce a broader supply zone. On the downside, initial support sits at the lower parallel-channel region around $1.110. A break there would expose further weakness, while holding above it would let buyers keep testing the moving-average ceiling overhead.
Fresh market snapshot (live figures)
According to live data, Bitcoin is currently around $63,115, just 0.04% above its previous close of $63,088. Its 52-week range runs from $57,748 to $116,273. In the latest technical read, RSI(14) is at 50 and the MACD is at -1253.70, sitting above its signal line of -1873.75, which keeps the histogram positive. Among the moving averages, the EMA20 is at $62,304, the EMA50 at $65,777 and the EMA200 at $76,871. Price remains in a long-term downtrend with a death cross in place, where the EMA50 is below the EMA200. ADX(14) is at 31, pointing to a defined trend. On the nearby levels, the pivot is at $63,360, resistance at $63,597 and $64,079, and support at $62,878 and $62,640.
A multi-horizon professional read adds more colour. In the short term (1 to 6 weeks), Bitcoin has broken the ceiling of its falling trend, which slows the initial rate of decline. It has support at 60,800 and resistance at 66,000, yet it is still assessed as technically negative for the short term. In the medium term (1 to 6 months) it shows weak development inside a falling channel and has marginally broken through resistance at 63,000, leaving it technically neutral. In the long term (1 to 6 quarters) it sits in a falling trend channel where a head and shoulders formation is developing. The 74,000 support has already broken, and a decisive break of 56,270 would signal a further fall.
The backdrop from last week and the rest of the market
To make sense of this recovery, the recent backdrop matters. Bitcoin had slid to a 21-month low of $57,800 before recovering to $61,800 on Friday. Over the same stretch, US-listed spot ETFs recorded outflows of $526.64 million through Thursday, marking the eighth consecutive week of withdrawals. It was out of that environment that Monday's steadying took shape.
Elsewhere in the market, Cardano (ADA) is trading slightly lower on Monday, finding support around the key technical level at $0.186. After a massive 31% rally in the previous week, it has paused its gains at the start of this week. Pi Network (PI), meanwhile, is showing a minor recovery on Friday, a slow follow-through of the 2% rebound from the previous day. That recovery in PI aligns with easing broader market risk-off sentiment, which has fuelled speculative interest in the token.
What actually drives crypto prices
A few fundamentals help explain these moves. New token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen an asset's liquidity and bring new participants into its network, which is typically bullish for a digital asset.
On the other side sits the hack, an event in which an attacker captures a large volume of an asset from a DeFi bridge, an exchange hot wallet or another crypto platform through exploits and bugs. The exploiter then moves those tokens out to sell or swap them for other cryptocurrencies or stablecoins. Such events often trigger mass panic and a sharp sell-off in the affected assets.
Macro events matter too. The US Federal Reserve's decision on interest rates influences crypto mainly through its direct impact on the US Dollar. A rate increase typically weighs on Bitcoin and altcoin prices, and a cut does the opposite. If the US Dollar index falls, risk assets and trading leverage get cheaper, which in turn drives crypto prices higher. Halvings, finally, are usually seen as bullish because they cut the block reward for miners in half and tighten the asset's supply. With demand steady, a shrinking supply tends to push the price up.
