Key takeaways
- Bitcoin traded below $83,000 on Monday after gaining more than 4% last week.
- Ethereum slipped below $2,700, while XRP consolidated around $1.500.
- BTC remains above its 50-day, 100-day, and 200-day exponential moving averages.
Bitcoin, Ethereum, and XRP began the week on a quieter note after last week’s gains. Bitcoin pulled back below $83,100 on Monday, Ethereum traded below $2,700, and XRP hovered around $1.500.
The moves suggest traders are reassessing the market’s next direction following its recent advance.
Bitcoin’s technical picture remains constructive despite the dip. The largest cryptocurrency is holding above several closely watched moving averages, while its momentum indicators still lean positive.
The immediate question is whether buyers can carry BTC back toward $85,000 or whether the pause develops into a deeper pullback.
Bitcoin holds above key moving averages
Bitcoin was trading at $83,100 on Monday after rising more than 4% last week. Its retreat from recent highs has so far left the broader near-term uptrend intact: BTC remains above its 50-day, 100-day and 200-day exponential moving averages (EMAs).
The 50-day EMA stands at $77,323. The 100-day EMA is at $73,931, while the 200-day EMA is at $74,253.
Together, these levels form a series of potential support areas if selling pressure increases. Holding above them would suggest that the latest dip is a pause within the recent advance.
For now, BTC is trading well above that group of averages. That gives buyers room to absorb a modest pullback, although a drop toward the 50-day EMA would represent a more meaningful test of the rally than Monday’s move below $83,600.
The distinction matters after a strong week. A market can ease from its highs while retaining its upward trend, but repeated failures to recover may gradually weaken buyer confidence. Traders will therefore be watching both how far BTC falls and how quickly demand returns.
Momentum cools as $85,000 caps the upside
Bitcoin’s relative strength index (RSI) was near 61, a reading consistent with positive momentum. It remains below the level commonly associated with overbought conditions, leaving room for another rise if buyers regain control.
The moving average convergence divergence (MACD) indicator has cooled but remains slightly positive.
That combination points to an uptrend that is still present, though less forceful than during the recent rally. Momentum readings can change quickly, so price action around nearby resistance will offer a clearer test.
The first barrier is approximately $85,000. Bitcoin would need to overcome selling around that level to make a stronger case for extending last week’s gains. A failed attempt could keep BTC in a period of sideways trading as buyers and sellers weigh the recent move.
On the downside, the current price area provides the first place to look for support. A more substantial decline would put the 50-day EMA at $77,323 in focus, followed by the longer-term averages near $74,000. Previously established horizontal support levels at $66,500 and $62,300 sit further below.
These levels outline the range of possible tests rather than a forecast that BTC will reach them. For the near term, the contest is much narrower: whether Bitcoin can stabilize above $83,000 and make another attempt at $85,000.
Ethereum’s move below $2,700 and XRP’s consolidation around $1.500 add to the cautious start to the week.
Both assets are taking a breather alongside Bitcoin, although the figures provided do not establish equivalent support or resistance levels for either token.
For traders following the three largest cryptocurrencies, Bitcoin’s response to $85,000 may offer a useful gauge of broader market appetite.
A renewed push above that barrier could signal that buyers remain willing to pursue last week’s gains. Continued consolidation, meanwhile, would leave the market waiting for a clearer direction.
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