- Bitcoin retreats toward $76,000 as escalating Middle East tensions intensify following US “self-defense” strikes near the Strait of Hormuz.
- Ethereum falls below $2,100, mirroring a broader risk-off mood even as Iranian negotiators gather in Qatar to finalize the US-Iran memorandum of understanding.
- XRP deepens its decline below $1.35 while continuing to hold above the SuperTrend indicator’s dynamic support around $1.32.
Cryptocurrency markets remain under pressure on Tuesday, with Bitcoin (BTC) pulling back toward the crucial $76,000 support area as risk-off sentiment persists. Ethereum (ETH) trades below the $2,100 mark, while Ripple (XRP) continues to consolidate beneath $1.35 after encountering resistance near $1.37.
Military tensions cloud US-Iran peace prospects
The weakness across global financial markets follows US military strikes launched Monday against targets in southern Iran near the Strait of Hormuz. According to a statement from US Central Command (CENTCOM) spokesperson Captain Tim Hawkins, the operations were carried out in “self-defense” and aimed at “protecting US troops from threats posed by Iranian forces.”
The consequences of the latest strikes for a potential US-Iran peace agreement remain uncertain. Iran’s Islamic Revolutionary Guard Corps (IRGC) stated on Tuesday that the country reserves the “legitimate and definite” right to respond to any violations of a ceasefire by the United States, according to BBC reports.
Despite rising tensions, US Secretary of State Marco Rubio stressed that a diplomatic resolution is still achievable, referencing Tuesday’s planned talks in Doha involving Iranian Foreign Minister Abbas Araghchi and Qatar’s Prime Minister. The discussions are expected to focus on finalizing the memorandum of understanding (MoU) between Washington and Tehran.
“We’ll see if we can make progress. There’s still a lot of back-and-forth over the wording in the initial document, so it may take a few more days,” Rubio told reporters during a visit to India.
Meanwhile, sentiment in the crypto market remains fragile. The Crypto Fear & Greed Index edged up to 34 on Tuesday from 30 a day earlier, but it still sits firmly in Fear territory. Investors continue to assess the broader economic risks stemming from the conflict, particularly as inflationary pressures in the United States remain elevated.
Price analysis: Bitcoin remains under pressure as downside risks persist
Bitcoin is trading around $76,668, maintaining a bearish short-term outlook as the price continues to stay below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which are positioned between approximately $76,784 and $81,285.
The alignment of these short- and long-term EMAs above the current market price indicates that upward moves are facing strong resistance pressure. Meanwhile, the Relative Strength Index (RSI) remains below the neutral 50 level on the daily chart, signaling weakening bullish momentum rather than deeply oversold conditions.
On the upside, Bitcoin faces immediate resistance at the 50-day EMA near $76,784, followed closely by the 100-day EMA around $76,880. A stronger resistance zone is located at the 200-day EMA near $81,285. To the downside, the key structural support remains the ascending trend line around $70,500. A daily close below this level could intensify bearish momentum and trigger a deeper correction.
Altcoins technical outlook: Ethereum and XRP remain under selling pressure
Ethereum is trading near $2,095 and continues to show a bearish short-term structure as the price stays below major moving averages. The 50-day EMA at $2,217, the 100-day EMA at $2,294, and the 200-day EMA at $2,516 are acting as layered dynamic resistance levels, indicating that recovery attempts may remain limited while ETH trades beneath this zone.
Momentum indicators also reflect ongoing weakness. The Relative Strength Index (RSI) remains in the upper-30 range on the daily chart, pointing to subdued buying strength, while the Moving Average Convergence Divergence (MACD) histogram stays in negative territory, suggesting bearish pressure continues to dominate despite intermittent rebounds.
On the downside, Ethereum’s immediate support is located around the ascending trendline near $2,074, where buyers could attempt to defend the price during pullbacks. A decisive break below this level would likely expose ETH to deeper losses and further strengthen the prevailing bearish structure.
To the upside, a move back above the 50-day EMA at $2,217 would provide the first signal that bearish pressure is easing. Additional resistance levels are seen at the 100-day EMA near $2,294 and the 200-day EMA around $2,516. Ethereum bulls would need to reclaim these key zones to confirm a more sustainable bullish reversal.
Meanwhile, XRP is trading near $1.34 and continues to maintain a bearish near-term outlook as the token remains below the 50-day EMA near $1.40, the 100-day EMA at $1.47, and the 200-day EMA at $1.68. Weak momentum indicators further support the downside bias, with the Relative Strength Index (RSI) hovering around 40 on the daily chart and the MACD histogram remaining in negative territory. This suggests that recovery attempts are likely to encounter selling pressure while the major moving averages continue to cap upward momentum.
On the upside, XRP faces initial resistance at the 50-day EMA around $1.40, followed by a stronger hurdle at the 100-day EMA near $1.47. The 200-day EMA at $1.68 represents a major long-term resistance zone and continues to act as the broader bearish ceiling unless successfully reclaimed.
On the downside, immediate support is seen at the SuperTrend indicator near $1.33. A decisive move below this level could trigger a deeper correction and intensify bearish momentum. However, as long as XRP remains above the SuperTrend support, the token is likely to continue consolidating beneath the cluster of major moving averages.
THE ETERNAL SOVEREIGN 
Leave a comment