Crypto Radar — May 23, 2026
Bitcoin closes this Saturday, 23/05/2026, trading at US$ 76.703, recording a modest gain of 1.1% over the last 24 hours. Despite the brief relief, the technical structure remains fragile with a 2% decline over the week. The total crypto market sums US$ 2.56 trillion in market capitalization, while the Fear & Greed index marks 28 points — fear territory that has already extended for consecutive weeks.
Bitcoin's dominance remains robust at 59.9%, indicating that capital is still seeking refuge in the sector's most liquid asset. Ethereum trades at US$ 2.113 with slightly better performance (+1.8%), but accumulates a 3.1% loss over the last seven days.
Bitcoin: RSI Approaching Oversold
Bitcoin's technical scenario presents mixed signals with a slightly negative bias. The RSI of 36.10 approaches the oversold zone (below 30), historically preceding technical bounces. However, the moving average structure remains bearish: SMA50 is 5.1% below SMA200, confirming a medium-term downtrend.
Análise Técnica — Bitcoin
The current price of US$ 76.703 navigates between SMA20 (US$ 79.165) and SMA50 (US$ 76.581), characterizing sideways movement with undefined trend. The critical support of the last 30 days remains at US$ 75.483, a level that, if broken, may accelerate the correction towards US$ 60.000 — according to analyst projections cited by CoinTelegraph.
Immediate resistance is positioned at US$ 77.546, with more significant barrier at US$ 82.146. Declining volatility suggests consolidation, but can also precede abrupt movements as the market defines direction.
Ethereum: Extreme Oversold
Ethereum presents more deteriorated technical conditions than Bitcoin. The RSI of 28.00 is already in extreme oversold territory, signaling potential short-term reversal. However, the bearish structure is more pronounced: SMA50 operates 11.4% below SMA200.
Análise Técnica — Ethereum
The price of US$ 2.113 trades below the major moving averages (SMA20 and SMA50), confirming the established downtrend. Critical support at US$ 2.064 represents the last line of defense before further deterioration. The nearest resistance is found at US$ 2.132, followed by US$ 2.370.
ETH's relative weakness versus BTC (dominance of only 9.9%) reflects risk-aversion sentiment, with investors prioritizing liquidity over high beta.
Notable Movements
While major assets consolidate, specific tokens present significant moves. NEAR leads gains with a 14.4% appreciation, followed by ONDO (+7.8%) and WLD (+7.6%). According to analysts cited by CoinDesk, AI tokens and protocols like Hyperliquid may lead the next altcoin wave.
On the negative side, CHZ plummets 7.9%, while BCH (-4.9%) and TON (-3.5%) also register significant losses. Extreme selectivity characterizes markets in transition, where specific narratives override general sentiment.
Stablecoin Rates
Macro and Sentiment
Trump's announcement about a peace agreement with Iran, reported by CoinDesk, initially boosted Bitcoin, but the effect dissipated quickly. The prospect of interest rate cuts by the Fed, with Warsh potentially adopting a dovish stance, offers a positive backdrop for risk assets in the medium term.
The negative flow of US$ 2.26 billion in Bitcoin ETFs over the last two weeks, according to CoinDesk data, evidences institutional selling pressure. This movement historically precedes phases of smart money accumulation, especially with Fear & Greed at extreme levels.
The potential approval of the Clarity Act may catalyze a boom in the "yield-as-a-service" sector, offering new structural demand for the crypto ecosystem. Meanwhile, the ECB's resistance to euro stablecoin proposals maintains the American dollar as the global benchmark.
Also Read on ON3X
Check out our previous analysis "Crypto Radar — May 22, 2026: BTC Falls to US$ 75.9K" for context on the recent market evolution and "Crypto Radar — May 21, 2026: BTC Rises to $77.6K" on the week's fluctuations.
What to Watch Tomorrow
- Bitcoin's behavior at the US$ 75.483 support — breakthrough could accelerate correction
- Ethereum's RSI reaction if it remains below 30 for an extended period
- ETF flows after the weekend — continuity of institutional outflow
- Developments on stablecoin regulation in Europe
- Performance of AI tokens mentioned as potential leaders of the next rally
Disclaimer: Crypto Radar is published daily by the ON3X team for informational purposes exclusively. This content does not constitute investment recommendation. Conduct your own research before making financial decisions.