Last Updated on 19/08/2026
- Bitcoin remains under pressure below the 50-day EMA near $64,368 on Wednesday, signaling continued bearish momentum.
- The Fear and Greed Index climbs to 41, indicating a shift toward neutral sentiment after the recent risk-off mood.
- Venice and Sky lead the gains among major altcoins over the past 24 hours.
Bitcoin (BTC) trades above $64,000 on Wednesday but remains under pressure as bulls look for signs of a sustained recovery. Meanwhile, improving crypto market sentiment and strong performances from Venice Token (VVV) and Sky (SKY) are drawing attention across the altcoin market.
CoinMarketCap’s Fear and Greed Index rises to 41, moving into neutral territory and suggesting that investor sentiment is gradually recovering from the recent risk-off mood.
Bitcoin Price Forecast: BTC Faces Resistance Near $64,400
Bitcoin trades near $64,384, hovering around the 50-day Exponential Moving Average (EMA) at approximately $64,368. The price action points to a mildly bearish near-term bias, although BTC continues to hold above the rising support trendline from $61,307 and the 23.6% Fibonacci retracement at $63,712.
Momentum indicators offer a more balanced picture. The Relative Strength Index (RSI) stands at 52, slightly above the neutral 50 level, while the Moving Average Convergence Divergence (MACD) and signal line remain broadly flat. This suggests that sellers have yet to gain decisive control.
On the upside, the first major hurdle is the 50% Fibonacci retracement near $69,200. Beyond this level, the 200-day EMA around $72,801 represents a key resistance zone. A sustained break above it could strengthen the bullish outlook.
On the downside, the 50-day EMA near $64,369 provides immediate support, followed by the 23.6% Fibonacci retracement at $63,712. A clear break below this area could expose Bitcoin to further losses toward the $57,800 region and undermine the broader recovery structure.
Altcoin Price Forecast: Can VVV and SKY Extend Their Gains?
Venice Token (VVV) remains above $13.00 after advancing around 20% earlier this week. The token maintains a bullish short-term setup while trading above the 50-day EMA at $12.40 and the 200-day EMA at $10.41.
VVV faces immediate resistance around $14.25, corresponding to the 50% Fibonacci retracement of the move from $21.42 to $9.81. A breakout above this level could open the path toward the 78.6% Fibonacci retracement near $18.12.
The RSI around 63 reflects solid bullish momentum without signaling overbought conditions, while the positive MACD slope above its signal line further supports the recovery.
On the downside, the 50-day EMA at $12.40 acts as the first support, followed by the 23.6% Fibonacci retracement at $11.80 and the 200-day EMA at $10.41.
Sky (SKY) trades above $0.0500 after gaining roughly 10% over the past three days. However, the token remains below its 50-day EMA at $0.0567 and 200-day EMA at $0.0616, keeping the broader technical outlook bearish.
Short-term momentum is improving, with the RSI rising to around 54 and moving above its midpoint. The MACD has also crossed above its signal line, indicating that selling pressure may be starting to ease.
SKY faces initial resistance at the 50-day EMA near $0.0567, while the descending resistance trendline around $0.0583 adds another hurdle. A stronger recovery would need to overcome the 200-day EMA at $0.0616.
If SKY turns lower from the 50-day EMA, the August 14 low at $0.05059 could provide the first downside target, followed by the June 27 low at $0.04859.
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