Blab Crypto
Bitcoin Holds Below 50-Day EMA as CPI Report Looms; Ethereum and XRP Face Consolidation
Bitcoin hovers near $63,800, perched just below its 50‑day exponential moving average (EMA) of $64,584 and its 100‑day EMA of $66,723. The price remains above the 50‑day support trendline at $63,458 and the Parabolic SAR at $62,753, yet bearish momentum is clear from a negative MACD histogram and an RSI hovering around 48. A sustained break above the 50‑day EMA would be required to lift the short‑term bias, while the 200‑day EMA at $73,129 remains a distant hurdle.
Ethereum is close to $1,893, comfortably above its 50‑day EMA of $1,865 but still held back by the 100‑day EMA at $1,924. With an RSI near 55 and a MACD below zero, upside attempts face resistance at the 100‑day EMA. Support is found at the 50‑day EMA and the Parabolic SAR at $1,829, while resistance lies at the 100‑day EMA and the 200‑day EMA near $2,166.
Ripple’s native token, XRP, trades around $1.02, below the Bollinger middle band at $1.06 and the 50‑day EMA at $1.09. The price is also under the 100‑day EMA of $1.18 and the 200‑day EMA of $1.37, confirming a broader downtrend. Momentum indicators show an RSI near 38 and a negative MACD, reinforcing the bearish stance. Immediate support sits at the lower Bollinger band at $1.00; a break below this level would open the possibility of further declines.
The market is holding its breath for the U.S. Consumer Price Index (CPI) release on Wednesday. The Bureau of Labor Statistics is expected to report a 0.1% month‑over‑month increase and a 3.4% year‑over‑year rise, down from 3.5% in June. Core CPI, which excludes food and energy, is forecast to rise 0.2% monthly and 2.5% annually. These figures could influence risk appetite across the crypto market.
Risk sentiment is reflected in the Fear & Greed Index, which sits at 27 on Wednesday, a slight decline from 29 the day before. The index indicates that market participants remain cautious, and a sustained rally would require a clear breakout from the current consolidation.
In summary, Bitcoin, Ethereum, and XRP are all trading below key moving‑average levels and are experiencing consolidation. The upcoming CPI report may provide a catalyst for movement, but the current technical picture suggests that a breakout above the 50‑day EMA for Bitcoin or the 100‑day EMA for Ethereum would be necessary to shift the short‑term bias. For XRP, a rebound would need to overcome the 50‑day EMA and the Bollinger middle band. Until such levels are breached, the market is likely to remain in a cautious, consolidating phase.
Ethereum is close to $1,893, comfortably above its 50‑day EMA of $1,865 but still held back by the 100‑day EMA at $1,924. With an RSI near 55 and a MACD below zero, upside attempts face resistance at the 100‑day EMA. Support is found at the 50‑day EMA and the Parabolic SAR at $1,829, while resistance lies at the 100‑day EMA and the 200‑day EMA near $2,166.
Ripple’s native token, XRP, trades around $1.02, below the Bollinger middle band at $1.06 and the 50‑day EMA at $1.09. The price is also under the 100‑day EMA of $1.18 and the 200‑day EMA of $1.37, confirming a broader downtrend. Momentum indicators show an RSI near 38 and a negative MACD, reinforcing the bearish stance. Immediate support sits at the lower Bollinger band at $1.00; a break below this level would open the possibility of further declines.
The market is holding its breath for the U.S. Consumer Price Index (CPI) release on Wednesday. The Bureau of Labor Statistics is expected to report a 0.1% month‑over‑month increase and a 3.4% year‑over‑year rise, down from 3.5% in June. Core CPI, which excludes food and energy, is forecast to rise 0.2% monthly and 2.5% annually. These figures could influence risk appetite across the crypto market.
Risk sentiment is reflected in the Fear & Greed Index, which sits at 27 on Wednesday, a slight decline from 29 the day before. The index indicates that market participants remain cautious, and a sustained rally would require a clear breakout from the current consolidation.
In summary, Bitcoin, Ethereum, and XRP are all trading below key moving‑average levels and are experiencing consolidation. The upcoming CPI report may provide a catalyst for movement, but the current technical picture suggests that a breakout above the 50‑day EMA for Bitcoin or the 100‑day EMA for Ethereum would be necessary to shift the short‑term bias. For XRP, a rebound would need to overcome the 50‑day EMA and the Bollinger middle band. Until such levels are breached, the market is likely to remain in a cautious, consolidating phase.
