Bitcoin (BTC) and Ethereum (ETH) prices are beginning to rebound as the cryptocurrency market shows signs of recovery on July 16, 2026. Bitcoin is now attempting to establish support around the $65,000 level while attempting to break through notable resistance levels.
Price Movements
After a prolonged downtrend, Bitcoin has reclaimed its 26-day exponential moving average (EMA) at $63,400 and is facing its next major hurdle at the 50-day EMA, approximately at $64,100. The asset’s upward momentum is underscored by the RSI rising above 57, reflecting that buying pressure is returning, especially after defending the $58,000 $60,000 support zone.
However, the volume remains moderate, indicating that a complete trend reversal is not yet in place. The potential for further movement lies in breaking above the 100-day EMA, set at about $68,500. Once surpassed, Bitcoin could approach the $75,000 mark, altering its bearish structure that has been apparent since late 2025.
Meanwhile, Ethereum displays stronger technical resilience. With its price nearing the critical 100-day EMA resistance at $1,944, Ethereum has successfully recovered its 26-day and 50-day EMAs. Recent patterns suggest increased buying activity, allowing Ethereum to break out of a slight ascending consolidation.
Zcash (ZEC) has also shown signs of recovery, contributing to the overall positive sentiment in the cryptocurrency market. The liquidity injection into these assets indicates a possible shift towards accumulation phases among investors.
This material is for informational purposes only and does not constitute financial advice.
