The cryptocurrency market showed signs of stabilization on Thursday, with Bitcoin, Ethereum, and XRP extending their recovery despite ongoing geopolitical tensions between the United States and Iran.
Bitcoin (BTC) climbed closer to the $63,000 level, while Ethereum (ETH) traded above $1,650 and XRP held firm above $1.12. The modest rebound comes even as investor sentiment remains cautious and capital continues to flow out of risk-sensitive assets.
Geopolitical Tensions Keep Investors on Edge
Market sentiment remains under pressure as military exchanges between the United States and Iran continue to escalate. The latest developments follow comments from US President Donald Trump criticizing Tehran for delaying negotiations, after which US forces reportedly carried out strikes on multiple targets in Iran, describing the operations as acts of self-defense.
In response, Iran’s Islamic Revolutionary Guard Corps (IRGC) launched attacks targeting US military facilities in Kuwait, Bahrain, and Jordan. Reports also suggest that Iranian officials have sought a halt to the latest wave of US military actions, signaling potential diplomatic efforts amid the conflict.
The uncertainty has weighed heavily on investor confidence, with the Crypto Fear & Greed Index remaining deep in the “Extreme Fear” zone at 12, slightly improving from 10 a day earlier. Analysts say the persistent risk-off environment is likely to limit the pace of any broader cryptocurrency recovery.
Bitcoin Faces Major Resistance Despite Recovery
Bitcoin continues to trade near $63,000 but remains trapped below several key technical resistance levels. The 50-day Exponential Moving Average (EMA) stands at $71,677, while the 100-day EMA is positioned at $74,003 and the 200-day EMA at $79,330, highlighting the strength of the prevailing downtrend.
Additional resistance is provided by the SuperTrend indicator near $68,416, suggesting that upward momentum may remain restricted unless Bitcoin can break above this level.
Technical indicators present a mixed picture. The Relative Strength Index (RSI) remains near 30, indicating oversold conditions, while the Moving Average Convergence Divergence (MACD) continues to signal bearish momentum.
Should Bitcoin overcome the SuperTrend resistance, traders will focus on the 50-day and 100-day EMAs as the next upside targets. Conversely, renewed selling pressure could push prices back toward the important psychological support zones at $60,000 and $56,000.
Ethereum Attempts to Build Support Above $1,600
Ethereum is trading around $1,662, maintaining a fragile recovery while remaining below all major moving averages. The 50-day EMA at $2,012 serves as the first significant resistance level, followed by the 100-day EMA at $2,158 and the 200-day EMA at $2,422.
Momentum indicators continue to reflect market weakness. The MACD remains in negative territory, while the RSI hovers around 30, suggesting oversold conditions but not yet confirming a bullish reversal.
On the downside, traders are closely watching support levels at $1,600 and $1,500. Holding above these thresholds could strengthen buying interest and support a move toward the SuperTrend resistance near $1,850. A sustained break above the 50-day EMA would provide the first meaningful signal that bearish pressure is easing.
XRP Recovery Remains Limited by Bearish Trend
XRP is trading near $1.12 and continues to face considerable technical resistance. The cryptocurrency remains below the 50-day, 100-day, and 200-day EMAs, which are clustered between $1.30 and $1.61. The SuperTrend indicator at $1.26 further reinforces the resistance zone.
Although the RSI has recovered slightly from oversold conditions and currently sits around 32, analysts note that this indicates a slowdown in selling pressure rather than a confirmed trend reversal. The MACD histogram also remains negative, highlighting persistent bearish momentum.
For XRP to strengthen its recovery outlook, it would need to break above the SuperTrend level and reclaim the 50-day EMA at $1.30. Beyond that, the 100-day EMA at $1.40 and the 200-day EMA near $1.61 represent key barriers. Until those levels are surpassed, market participants are likely to view rallies as temporary corrections within a broader downtrend.
