Bitcoin pulled back below $83,100 on Monday after last week's rally, though it remains above its key moving averages. Ethereum and XRP eased alongside it, leaving traders watching whether Bitcoin can stabilize and mount a fresh push at $85,000.
Bitcoin was trading at $83,100 on Monday, pulling back after rising more than 4% last week. The retreat leaves traders weighing whether the pause fits within the broader advance or marks the start of a deeper pullback.
Bitcoin holds above key moving averages
The pullback hasn't broken the broader uptrend. Bitcoin remains above its 50-day, 100-day and 200-day exponential moving averages, with the 50-day EMA at $77,323, the 100-day EMA at $73,931 and the 200-day EMA at $74,253.
Together, those levels form a series of potential support areas if selling pressure builds. Holding above them would suggest the latest dip is a pause within the recent advance.
Momentum cools as $85,000 caps the upside
Bitcoin's relative strength index sits near 61, a reading consistent with positive momentum but still below overbought territory. The MACD indicator has cooled but remains slightly positive, pointing to an uptrend that persists, though with less force than last week's rally.
The first barrier sits at approximately $85,000. A failed attempt to clear it could keep Bitcoin in a stretch of sideways trading, while a deeper decline would put the 50-day EMA back in focus, followed by longer-term averages near $74,000 and, further below, horizontal support at $66,500 and $62,300.
Ether and XRP ease alongside Bitcoin
Ethereum slipped below $2,700 alongside Bitcoin's pullback. XRP consolidated around $1.500 over the same stretch.
The figures don't establish equivalent support or resistance levels for either token, but the moves add to a cautious tone at the start of the week.
For now, the contest is narrower: whether Bitcoin can stabilize above $83,000 and mount another attempt at $85,000.
Source: CoinJournal
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