Bitcoin is trading near $63,800 today, down nearly 2%, with key resistance at $65,500 and support near $64,000. Here’s where BTC, ETH, SOL, and XRP could head next.
Crypto markets are leaning red today, with Bitcoin sliding to around $63,813 and most major altcoins following suit. Sentiment has cooled noticeably, and a wave of reduced price targets from major Wall Street banks is adding to the cautious mood heading into midweek trading.
Bitcoin: Watching the $65,000 Line
Bitcoin is currently trading around $63,813, down close to 2% on the day. Right now, the $65,000 mark is shaping up to be the single most important level for traders to watch in either direction.
If Bitcoin turns bullish: A hold above $65,000 followed by a breakout past $65,500 on strong volume could open the door to $66,300–$66,400, with $67,000–$68,000 as the next stretch target. A clean, confirmed move above $66,400 would even put the psychologically important $70,000 level back into play.
If Bitcoin turns bearish: A drop below $65,000 would first test support around $64,000–$64,300. If that support fails to hold, the next likely landing zone is the $63,000–$63,700 demand area — territory Bitcoin is already flirting with today.
Overall sentiment remains fairly cautious. Market positioning currently sits at roughly 43% bullish, and the Crypto Fear & Greed Index is reading 31, placing it firmly in “Fear” territory. Bitcoin has still managed 15 green days out of 30 so far this month, suggesting the pullback hasn’t fully erased the month’s earlier gains, even as short-term momentum has clearly turned more defensive.
Four Coins Worth Watching Right Now
XRP — Testing a Breakdown
XRP is trading near $1.03 and currently testing a bearish break below a rising support trendline close to $1.05. The token remains below both its 50-day EMA ($1.1143) and 200-day EMA ($1.3938), putting the psychologically significant $1.00 level at real risk if selling continues.
The weakness traces back to repeated failed attempts to break above the upper boundary of its trading channel throughout July, which has kept the short-term trend bearish, with RSI slipping to around 41. There’s a silver lining, though: XRP has actually held up comparatively better than many peers during this stretch of volatility, a resilience some analysts link to steady, ETF-style buying patterns from newer investors accumulating smaller positions gradually rather than trading emotionally.
Ethereum — An Oversold Setup Worth Watching
Ethereum is trading around $1,871, down roughly 2.5% today. What makes ETH particularly interesting right now is that it’s flashing deeply oversold RSI readings, which some analysts consider one of the more compelling recovery setups of 2026 so far.
The recent dip traces back to renewed selling pressure near key resistance late in July, which carried Ethereum into August still trading within a fragile technical structure. Even so, there’s a case for optimism: shrinking available supply combined with steady underlying demand is gradually building what some analysts describe as a more constructive long-term structure — the kind of setup that can eventually produce a delayed but sharp upside move once selling pressure exhausts itself.
Solana — Capped Below Resistance
Solana is trading near $75.86, down about 1.6% on the day, and remains stuck below both its 50-day EMA and a declining resistance trendline sitting close to $75.49. That combination is keeping the token under continued downside pressure for now.
Beyond the technical picture, Solana is also facing a credibility question. A 2026 study found that roughly 76% of Solana-based tokens launched in the first half of 2025 were later classified as rug-pulls — a statistic that’s fueling ongoing debate over whether the network’s fee revenue genuinely reflects durable, sustainable usage, or whether it’s still largely propped up by short-lived speculative activity.
Cardano — Under Broad Pressure
Cardano is showing the weakest technical picture of the group today, edging lower and at risk of dropping toward its 50-day EMA near $0.1766 as bullish momentum continues to fade under broader market-wide pressure.
Today’s Market Snapshot
| Asset | Price | 24h Change |
|---|---|---|
| BTC | $63,813 | -1.94% |
| ETH | $1,871 | -2.48% |
| SOL | $75.86 | -1.60% |
| XRP | $1.03 | -0.58% |
Wall Street Is Turning More Cautious on Bitcoin
Adding to today’s subdued mood, several major financial institutions have been trimming their Bitcoin price targets for 2026. Citi has cut its forecast twice this year, lowering its target from $143,000 all the way down to $82,000. Standard Chartered and Bernstein have made similar downward revisions to their own outlooks. Notably, no major bank has raised its 2026 Bitcoin price target so far this year — a trend worth keeping in mind, even for traders who remain optimistic about crypto’s longer-term trajectory.
The Bottom Line
Short term: Bearish to cautious, with $65,000 standing as the key level that will likely determine Bitcoin’s next real move.
Long term: Bullish potential remains intact for many analysts, even as near-term price action and institutional forecasts have both turned more conservative.
Key level to watch: Bitcoin at $65,000 — a hold and breakout above this zone would shift the tone meaningfully bullish, while a failure to reclaim it keeps the current cautious, range-bound mood in place.
Frequently Asked Questions
Q: Is Bitcoin bullish or bearish right now? Short-term sentiment is leaning cautious to bearish, with Bitcoin trading below $65,000 and the Fear & Greed Index sitting in “Fear” territory at 31. A confirmed move back above $65,500 would be needed to shift the outlook more bullish.
Q: Why did major banks lower their Bitcoin price targets? Citi, Standard Chartered, and Bernstein have all reduced their 2026 Bitcoin forecasts this year, with Citi cutting its target twice, from $143,000 down to $82,000, reflecting a broader shift toward more conservative institutional expectations.
Q: Why is XRP holding up better than other altcoins? Analysts point to steady, ETF-style accumulation from newer investors who are building smaller positions gradually, which has helped reduce panic-driven selling compared to some other major altcoins.
Q: Why is Ethereum considered an interesting recovery setup right now? ETH is showing deeply oversold RSI readings, a technical condition that historically has sometimes preceded sharp rebounds, especially when paired with shrinking available supply and steady underlying demand.
Q: What’s causing concern around Solana specifically? Beyond technical resistance levels capping its price, a 2026 study found that roughly 76% of Solana-based tokens launched in early 2025 were later classified as rug-pulls, raising questions about the sustainability of the network’s underlying activity.
This is not financial advice. Crypto markets are highly volatile, and prices can change significantly within hours. Always do your own research before making investment decisions.
