Share this article
BTC
$94,499.72
+
1.78%ETH
$1,776.34
+
1.29%USDT
$1.0004
+
0.01%XRP
$2.1939
+
0.57%BNB
$604.18
+
1.23%SOL
$153.44
+
3.26%USDC
$0.9998
-
0.00%DOGE
$0.1810
+
3.90%ADA
$0.7143
+
2.56%TRX
$0.2436
-
0.74%SUI
$3.6519
+
20.31%LINK
$14.98
+
3.15%AVAX
$22.34
+
1.59%XLM
$0.2833
+
5.71%LEO
$9.0856
-
1.00%HBAR
$0.1979
+
8.74%SHIB
$0.0₄1399
+
5.67%TON
$3.2038
+
2.70%BCH
$368.81
+
5.76%LTC
$85.86
+
5.33%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 Declines From Resistance, Approaches $40K Support
The intermediate-term trend is weakening, although support at $40K could stabilize the pullback.
Bitcoin (BTC) is trading lower after sellers responded to resistance near $45,000. The cryptocurrency is down about 4% over the past 24 hours to $41,909 as upside momentum slows.
Support is nearby at $40,000, which could stabilize the pullback.
STORY CONTINUES BELOW
- The 100-period moving average on the four-hour chart continues to cap upside moves. That suggests buyers are losing strength after failing to sustain a breakout above $50,000 resistance earlier this month.
- The relative strength index (RSI) on the four-hour chart is neutral after reaching overbought levels last week, which preceded a brief 14% price bounce.
- On the hourly chart, the RSI is the most oversold since Sunday, suggesting intraday buyers could remain active, albeit briefly toward $43,000-$45,000 resistance.
- And on the weekly chart, upside momentum has slowed over the past two months, indicating a weaker uptrend as price increases remain limited.
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.
