The current technical outlooks of the four major assets in the cryptocurrency market reveal different trends and risks. As Bitcoin tries to reorient itself after a prolonged correction, Hyperliquid is showing strong signs of growth. While volatility and sharp fluctuations stand out in Zcash, weak structures stand out in Dogecoin and Ethereum.
Bitcoin still hasn’t surpassed the $80,000 threshold
Despite efforts to balance the Bitcoin price in the mid-70 thousand dollars in recent days, the general structure on the chart still indicates downward pressure on large time frames. It is especially noteworthy that the price has been trading below the main moving averages since the decline starting from $ 125 thousand.
Currently, the most critical resistance point is the 200-day moving average, which is just below $80,000. Every recovery in recent weeks has turned downwards once this level has been approached. Bitcoin price is currently stuck between the 50- and 100-day averages at $76,000 and $78,000. However, volume is seriously low and there is no strong buyer interest; Therefore, the chart shows more of a short-term squeeze phase.
“Bitcoin has managed to form a higher bottom after falling to $65,000, but a significant breakout supported by strong volume has yet to come. Unless the 200-day average is breached, the upside is not expected to be permanent.”
For an upward break on the chart, permanent closes must occur between 78 thousand and 80 thousand dollars. Otherwise, the possibility of the price falling back to 70 thousand dollars or even 60 thousand dollars will remain on the table. The fact that the RSI indicator is around 50 also reflects the indecision of the market.
Mini dictionary: 200-day moving average, a technical indicator that shows the average of the last 200 days of closing prices in financial markets. Investors think that movements above or below this level provide information about the general trend.
| Presence | Price Zone | 200G HO | RSI | momentum |
|---|---|---|---|---|
| Bitcoin | $70–78 thousand | Under $80K | 50 neutral | Weak |
| Hyperliquid (HYPE) | around $60 | Below the price (on the rise) | 80 (overbought) | Strong |
| Zcash (ZEC) | around $700 | below price | High (overbought) | volatile |
| dogecoin | $0.10–$0.12 | around $0.12 | neutral-sub | Weak |
| Ethereum | $2,100–$2,400 | $2,500 | 40s (weak) | Low |
Hyperliquid stands out on strong growth
Contrary to Bitcoin’s cramped and dull appearance, Hyperliquid exhibits a much more dynamic upward trend. In the last strong breakout, the price started from the high $40s and reached the $60 band in a short time. Increasing transaction volume throughout the rise and the overlapping of short-term averages and exceeding the price technically indicate a new growth phase.
While the rising trend line, which started from the bottom in March, is still valid, buyers step in above the old bottoms with each retreat. Additionally, the possibility of a deep correction never materialized throughout the rise, indicating an aggressive accumulation trend in the market.
On the other hand, on the HYPE side, the RSI on the daily chart reached the 80 level and reached the overbought zone. Technically, it is common for the market to experience a temporary cooling phase after such sharp rises. In particular, it is closely monitored whether the $55-58 support range can be maintained; Otherwise, a harsh correction may quickly come to the fore.
Mini dictionary: Hyperliquid (HYPE) is a cryptocurrency protocol with its own blockchain infrastructure, focusing on decentralized derivative transactions. In 2024, it attracted attention especially with its exit from the agricultural phase by reaching a high transaction volume in a short time.
Rally and risk rose together in Zcash
Zcash exhibited a more aggressive but unbalanced rise even than Hyperliquid during this period. The price climbed like a jet to the $ 700 level after a long horizontal band. While a persistent hold above all three major moving averages appears technically strong, the candlesticks have distinct upper wicks and sudden reversals.
The break above the April peaks triggered high-volume sharp purchases. However, profit taking from new highs caused great volatility on the chart. RSI is still overbought and ZEC can unwind quickly at the slightest momentum weakness. The current chart, despite the upward momentum, carries potential risks for surprise sharp corrections.
Dogecoin and Ethereum became the weak link
Although there was an attempt to recover in Dogecoin after the February-April bottom, the bear market structure still continues in a broad framework. Unless the critical resistance zone above $0.11 is breached, the price’s attempts to rise remain short. Volume is still low; There is no strong accumulation signal in the market.
Although the blue trend line starting from the April bottoms on the chart works as support, the compression in the moving averages shows that the strength for the upward direction is weak. In the short term, if DOGE remains above $0.10 and there are large attacks, a new movement area can only arise. Otherwise, the market may weaken towards April bottoms again.
On the Ethereum front, the technical structure seems even weaker than Bitcoin. The price has been below the 200-day moving average for quite some time and recent bullish attempts have been weak. The descending wedge formation formed in the April-May period increases the downward pressure on the market. The RSI has fallen to the 40s, and for an increase, it must first rise above the $ 2,300-2,400 range and the falling trend line.
In order for the trend in Ethereum to turn upward, the $ 2,300-2,400 band must be clearly exceeded. If this fails, the price could pull back towards the psychological $2,000 support.
