Bitcoin, Ethereum and XRP are showing signs of a short-term recovery, but the market remains at an important point. Recent price action shows that the three cryptocurrencies have avoided deeper declines for now, while several resistance levels are still limiting a stronger recovery.
Bitcoin Holds $62,000 Support
Bitcoin remains inside a wide trading range, with $60,000 acting as major support and $66,000-$67,000 as resistance.
The most important downside area is around $62,000-$62,200. Bitcoin has so far stayed above this level, keeping its recent price structure intact.
A confirmed move below $62,000 could create a new lower low and increase the chance of a deeper decline in the following weeks. On the upside, a move above $65,500 could weaken the current bearish setup and allow Bitcoin to move higher.
Ethereum Struggles Below $2,000
Ethereum is also moving within a range and continues to face resistance around $1,940-$1,970. ETH has support around $1,800-$1,830, while the wider support zone sits between approximately $1,500 and $1,600.
A sustained move above $1,970-$1,980 could improve Ethereum’s outlook and bring $2,130-$2,150 into focus. Above that range, the next resistance area is near $2,400.
