Bitcoin and Ethereum are attempting to recover after recent declines that dragged both assets below key technical levels.
While momentum indicators show early signs of improvement, overhead resistance zones remain critical hurdles for any sustained upside move.
Bitcoin tries to rebound below key resistance
Bitcoin prices corrected sharply after failing to hold gains above the $92,000 and $92,500 levels.
The sell-off pushed BTC below the $90,500 support zone and briefly under $88,000, before buyers emerged near the $87,500 area.
A short-term low was established at $87,582, from where prices have started to move higher.
The recovery has seen Bitcoin climb above the 23.6% Fibonacci retracement of the decline from the $93,561 swing high to the recent low.
However, BTC continues to trade below $90,000 and remains under the 100-hourly simple moving average, highlighting lingering bearish pressure.
Immediate resistance is located near $90,000, followed by a more significant barrier around $90,500.
A bearish trend line on the hourly BTC/USD chart also adds resistance near $90,650. If Bitcoin manages to settle above the $90,500 zone, the next upside targets lie near $92,000 and $92,500.
A close above $92,000 could open the door to further gains toward $93,200, with $94,000 and $94,500 acting as higher resistance levels.
On the downside, failure to clear $90,500 could trigger another decline. Initial support is seen near $88,550, followed by $88,000 and $87,500.
A deeper move lower could expose the $86,500 level, while the main support remains at $85,000.
Technically, the hourly MACD is gaining strength in bullish territory, and the RSI has moved above 50, suggesting improving short-term momentum.
At the time of writing, Bitcoin was trading at $89,295, down by 1.16% in the last 24 hours.
Ethereum consolidates after dip toward $3,000
Ethereum has mirrored Bitcoin’s recent weakness, retreating after failing to sustain levels above $3,180.
The decline pushed ETH below $3,150 and $3,120, briefly testing the $3,000 area.
A low was formed at $3,026, from where prices have attempted a modest recovery.
ETH has moved above the 23.6% Fibonacci retracement of the drop from the $3,273 swing high to the recent low.
Despite this rebound, Ethereum remains below $3,200 and the 100-hourly simple moving average.
A bearish trend line on the hourly ETH/USD chart is also capping gains near $3,175.
If Ethereum continues to recover, resistance is expected near $3,150 and around the 50% Fibonacci retracement level.
The $3,180 zone and the $3,200 level represent more significant hurdles.
A clear break above $3,200 could see ETH retest $3,250, with potential extensions toward $3,320 or even $3,400 if bullish momentum strengthens.
Ethereum was trading at $3,114, down by 0.19% in the previous 24 hours.
Downside risks remain for both assets
Should Ethereum fail to reclaim $3,200, downside risks persist. Initial support lies near $3,080, followed by the key $3,050 level.
A sustained move below $3,050 could push prices toward $3,020 and the psychological $3,000 mark, with $2,940 acting as a deeper support zone.
For now, both Bitcoin and Ethereum show tentative signs of stabilisation, supported by improving momentum indicators.
However, their ability to overcome nearby resistance levels will likely determine whether the current recovery attempts develop into more sustained upward moves or fade into another leg lower.
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