Bitcoin is trading above $72,500 at the time of writing on Thursday, maintaining a 6% gain compared to the previous session and reinforcing a broader recovery trend across the crypto market. Total cryptocurrency market capitalization has now surpassed $2.43 trillion, reflecting a clear improvement in investor sentiment.
Over the past 24 hours, Decred (DCR), Zcash (ZEC), and Dogecoin (DOGE) have stood out as top gainers, as risk appetite gradually returns and capital begins flowing back into digital assets.
Bitcoin Reclaims $72K, Lifting the Broader Market
Bitcoin has broken out of a prolonged consolidation phase below the $70,000 level after a sharp 6% surge on Wednesday, signaling a notable recovery across the market.
At the time of writing on Thursday, BTC continues to hold above $72,500, although its recent rally previously faced resistance at the 50-day Exponential Moving Average (EMA).
However, the 50-day, 100-day, and 200-day EMAs remain sloping downward, suggesting the medium-term bearish bias has not yet been fully invalidated and may continue to limit deeper recovery attempts.
On the daily chart:
- The Relative Strength Index (RSI) stands at 55 and continues trending above its moving average, indicating improving buying pressure.
- The MACD indicator is approaching the zero line, while expanding positive histogram bars signal growing bullish momentum.
If BTC successfully breaks above the 50-day EMA at $74,382, the next upside target could be the 50% Fibonacci retracement level at $78,258, measured from the October 6 high of $126,199 to the November 5 low of $80,600.
A decisive close above this zone may open the door for a broader recovery toward the 100-day EMA near $81,801.
On the downside, the previous breakout zone near the 78.6% Fibonacci level at $68,839 is likely to act as an important support if the market experiences a pullback.
Market Sentiment Improves as Bitcoin Recovers
Bitcoin’s recovery is gradually spreading positive momentum across the entire crypto market, helping improve investor sentiment.
At the time of writing on Thursday, the total crypto market capitalization has risen to approximately $2.43 trillion, up more than 5% from $2.32 trillion recorded a day earlier, suggesting capital is slowly returning to the market.
Meanwhile, the Crypto Fear & Greed Index, published by CoinMarketCap, has also shown noticeable improvement, rising from 19 points on Wednesday to 29 points.
This movement suggests that bearish pressure is starting to ease. However, the index remains below 40, meaning the market is still in the “fear” zone.
The neutral range for the index sits between 40 and 60, and only when it moves above 60 — the “greed” threshold — can the market confirm a stronger bullish trend.
Decred, Zcash, and Dogecoin Lead the Recovery
Decred is up another 7% at the time of writing on Thursday, extending the 7% gain recorded in the previous session and strengthening its short-term bullish outlook.
The price continues to trade above the 50-day, 100-day, and 200-day EMAs, which are all trending upward — a sign that the bullish structure remains intact.
This privacy-focused cryptocurrency is currently trading above the 50% Fibonacci retracement level at $31.54, measured from the November 4 high of $70 to the December 23 low of $14.21.
If DCR manages to close convincingly above this level, the next potential target could be the 61.8% Fibonacci level at $38.07.
Technical indicators also support the bullish scenario:
- MACD remains above the signal line and stays in positive territory on the daily timeframe.
- A modest positive histogram suggests upward momentum is still present.
- RSI sits at 66, still below the overbought zone, indicating room for further upside before momentum shows clear signs of weakening.
If a correction occurs, the nearest support lies at the 38.2% Fibonacci level around $26.13, followed by the 50-day EMA near $24.88.
Meanwhile, Zcash is down around 2% on Thursday, following a 10% rally on Wednesday.
Technical signals suggest the recent rebound could be temporary.
The 50-day EMA continues to slope downward and is approaching the 200-day EMA, increasing the risk of a Death Cross — a pattern typically associated with longer-term bearish trends.
This suggests the recent rally may have been a technical bounce rather than the beginning of a sustained recovery.
On the resistance side:
- A descending trendline near $266 acts as the closest barrier.
- The 200-day EMA at $289 may serve as the next resistance level where selling pressure could increase.
Momentum indicators remain relatively weak:
- The MACD line is slightly rising above the signal line but still fluctuates near zero, indicating limited bullish strength.
- RSI stands at 44, suggesting buying pressure remains relatively weak despite recovering from oversold territory.
On the downside, the psychological level of $200 is considered the most important support that bulls need to defend.
Dogecoin is also facing renewed selling pressure as it approaches the $0.1000 level, which previously capped a nearly 10% rally on Wednesday.
At the time of writing on Thursday, DOGE is down roughly 2%.
The 50-day and 200-day EMAs remain downward-sloping, acting as overhead resistance and weakening short-term recovery attempts.
To regain bullish momentum, DOGE needs to break above the 50-day EMA at $0.1066.
If that happens, the next potential targets could include:
- The December 31 swing low near $0.1161
- Followed by the 100-day EMA around $0.1240
From a technical perspective:
- The MACD line sits only slightly above the signal line and hovers near zero, suggesting weak upward momentum.
- RSI stands at 47, slightly below the average level, indicating a largely neutral market condition.
If selling pressure increases, the recent swing low near $0.0879 may act as a critical support level.
Managing Market Opportunities with Pulse Wallet
When market momentum begins to return — like the current rebound driven by Bitcoin’s move above $72K — altcoins often react quickly. Price swings can happen within hours, making it essential for traders and investors to have fast and reliable access to their assets.
Pulse Wallet is designed to simplify how users manage and interact with crypto assets. The wallet provides a secure and intuitive way to store, send, and track cryptocurrencies, while maintaining full control of private keys. This allows users to respond quickly to market movements without relying on centralized platforms.
For users active in emerging ecosystems such as PulseChain, Pulse Wallet offers a streamlined experience with low transaction fees and fast confirmations, making it easier to move assets, explore DeFi opportunities, and manage portfolios during periods of market volatility.
As altcoin momentum builds, having a reliable wallet becomes just as important as identifying the right market signals.
Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency markets are highly volatile, and prices can change rapidly. Always conduct your own research and consider your financial situation before making any investment decisions. Pulse Wallet does not provide financial advice or guarantee any investment outcomes.
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