Share this article
BTC
$77,054.86
-
2.77%ETH
$1,467.77
-
6.49%USDT
$0.9994
-
0.04%XRP
$1.8157
-
2.02%BNB
$551.08
-
0.99%USDC
$1.0000
-
0.00%SOL
$106.10
-
1.84%TRX
$0.2282
-
1.87%DOGE
$0.1448
-
2.37%ADA
$0.5698
-
1.79%LEO
$9.1643
+
2.12%TON
$3.0112
-
3.12%LINK
$11.16
-
3.40%AVAX
$16.66
-
2.20%XLM
$0.2225
-
2.19%HBAR
$0.1537
-
2.33%SHIB
$0.0₄1096
-
2.56%SUI
$1.9439
-
3.11%OM
$6.2971
-
0.13%BCH
$274.70
-
0.42%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Bitcoin Sell-Off Could Stabilize Around $30K Support
Sellers are in control after bitcoin broke below a series of higher price lows from the June 22 shakeout around $29,000.
Bitcoin (BTC) sellers were active during Asia hours, pushing price below $34,000 support. The cryptocurrency was trading around $32,000 at press time and is down 6% over the past 24 hours. The next level of support is seen around $30,000, which could stabilize the current sell-off.
STORY CONTINUES BELOW
- The relative strength index (RSI) is oversold on the four-hour chart for the first time in two weeks. Previous oversold readings triggered 15%-20% relief rallies.
- However, sellers are in control after bitcoin broke below a series of higher price lows from the June 22 shakeout around $29,000.
- Buyers will likely wait to return near $30,000 support, which is the bottom of the month-long trading range.
- A relief bounce should be limited around $33,000 resistance as upside momentum slows.
Damanick Dantes
Damanick was a crypto market analyst at CoinDesk where he wrote the daily Market Wrap and provided technical analysis. He is a Chartered Market Technician designation holder and member of the CMT Association. Damanick is also a portfolio strategist and does not invest in digital assets.
