- Bitcoin remains under pressure below $60,000 as crypto sentiment stays firmly in “Extreme Fear” territory.
- Solana, Zcash, and Hyperliquid posted notable gains, supported by improving technicals and fresh ETF inflows.
- While broader market momentum remains weak, several altcoins are beginning to show early signs of recovery.
The cryptocurrency market is still struggling to find solid footing.
Bitcoin remains stuck below the important $60,000 level, keeping overall sentiment subdued as traders continue waiting for a catalyst strong enough to shift momentum. According to CoinMarketCap’s Fear and Greed Index, investor sentiment remains deep in “Extreme Fear,” with the index hovering around 17 during Tuesday’s early Asian trading session.
That kind of reading usually reflects widespread caution, and right now, it’s easy to see why.
Even so, not every digital asset is moving in the same direction. While Bitcoin continues to drift sideways, Solana, Zcash, and Hyperliquid have managed to outperform much of the market over the past 24 hours.
Bitcoin Continues Searching for Direction
Bitcoin is trading just under the $60,000 mark after another quiet session, extending a period of consolidation that has frustrated both bulls and bears.
Although the broader trend remains bearish, selling pressure appears to be easing slightly.
BTC still trades well below its major moving averages, with the 50-day Exponential Moving Average sitting around $66,698 and the 200-day EMA near $77,512. Those levels continue acting as heavy resistance and reinforce the market’s longer-term downward structure.
An earlier support trendline around $74,131 has also flipped into resistance after breaking during the recent correction.
Momentum indicators, however, are beginning to improve.
The MACD has crossed slightly above its signal line, suggesting bearish momentum is weakening, while the Relative Strength Index has climbed toward 33 after spending time near oversold territory.
Neither signal confirms a trend reversal just yet, but they do hint that sellers may be losing some control.
For Bitcoin to regain stronger momentum, buyers first need to reclaim the $60,000 level. Beyond that, resistance around the 50-day EMA and the former trendline near $74,131 remain significant obstacles before the market can seriously challenge the 200-day EMA.
On the downside, losing support around $58,115 could expose Bitcoin to another move lower toward the next major support near $53,485.
Solana Benefits From Fresh ETF Demand
Solana has been one of the stronger performers over the past day.
The token climbed roughly 5% after attracting approximately $5.52 million in net inflows into Solana-focused exchange-traded funds, signaling renewed institutional interest.
SOL is currently trading near $75, an area that also coincides with its 50-day EMA.
Technically, the recovery has improved short-term momentum.
The RSI has climbed to around 55, moving above the neutral midpoint, while the MACD continues rising toward positive territory after bouncing from recent lows.
Even with those encouraging signals, Solana still faces considerable resistance.
The 50-day EMA around $75.23 remains the first hurdle. If buyers successfully break above that level, attention could shift toward the 200-day EMA near $98.03, where much stronger resistance awaits.
Zcash Attempts a Bullish Reversal
Zcash has also shown renewed strength after gaining roughly 8% during the previous session.
The privacy-focused cryptocurrency has climbed back above its 200-day EMA near $380 and is now trading around the $400 level.
Chart patterns suggest the asset could be developing a potential double-bottom formation, with support continuing to hold near the 50% Fibonacci retracement level around $356.
Momentum indicators are slowly improving as well.
The RSI has recovered to approximately 42, while the MACD appears close to generating a bullish crossover, often viewed as an early sign that downside momentum is fading.
If buyers continue pushing higher, the next major target sits near the 50-day EMA around $454, followed by the 78.6% Fibonacci retracement level close to $520.
Should momentum weaken again, support remains around $356 before the psychologically important $300 level comes into focus.
Hyperliquid Holds Strong Above Key Support
Hyperliquid continues showing resilience compared to much of the broader market.
HYPE is trading around $66 after rebounding nearly 9% from its 50-day EMA near $60 earlier this week.
Like Solana, Hyperliquid has also benefited from fresh institutional demand, with U.S. spot HYPE ETFs recording approximately $2.23 million in net inflows.
Technical indicators continue favoring the bulls.
The RSI remains above the midpoint near 53, while the MACD histogram has started shrinking, suggesting bearish momentum is gradually fading.
The immediate resistance sits near the 78.6% Fibonacci retracement level around $66.22.
A convincing breakout above that zone could open the door to a retest of Hyperliquid’s previous all-time high near $76.93. Beyond that, the next technical target sits around the 127.2% Fibonacci extension near $93.08.
On the downside, the 50-day EMA around $60.08 continues serving as the first line of support, followed by the 50% Fibonacci retracement level near $54.19.
While Bitcoin continues searching for direction, Solana, Zcash, and Hyperliquid are showing that pockets of strength still exist within the crypto market. Whether those gains can continue may ultimately depend on Bitcoin stabilizing and broader market sentiment beginning to recover.
