Share this article
BTC
$82,909.30
+
0.48%ETH
$1,791.01
+
0.14%USDT
$0.9996
+
0.01%XRP
$2.1410
+
1.63%BNB
$593.78
+
0.40%SOL
$118.11
+
0.64%USDC
$1.0000
+
0.01%DOGE
$0.1682
+
0.13%ADA
$0.6537
-
0.08%TRX
$0.2383
-
1.08%LINK
$12.72
+
0.99%LEO
$8.9818
-
4.38%TON
$3.2449
-
4.38%XLM
$0.2544
-
1.47%AVAX
$17.98
-
0.33%SHIB
$0.0₄1219
-
0.04%SUI
$2.2028
-
0.58%HBAR
$0.1602
-
2.12%LTC
$82.65
-
0.49%OM
$6.2295
-
1.37%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Bitcoin Rally Holds Support Above $52K, Next Resistance Near All-Time High
Pullbacks could be limited given strong upside momentum.
Bitcoin (BTC) continues to strengthen after breaking above $50,000 earlier this week and rallying Thursday to a five-month high.
The cryptocurrency was trading around $54,000 at press time and is up 5% over the past 24 hours. Overbought signals suggest risk of a pullback, albeit limited to support around $50,000-$52,000.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The intermediate-term uptrend has improved over the past few months, which could keep buyers active toward the all-time high near $64,000.
- The relative strength index (RSI) is the most overbought since September, which preceded a correction. However, a similar downturn is unlikely given strong upside momentum and a series of breakouts on the charts.
- Buyers will need to hold support above $48,000-$50,000 in order to resume the recent rally.
- BTC is not yet overbought on the weekly chart, which points to further upside.
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.
