Share this article
BTC
$84,517.57
+
0.22%ETH
$1,584.54
-
0.49%USDT
$0.9996
-
0.02%XRP
$2.0808
-
0.80%BNB
$589.77
+
0.74%SOL
$133.75
+
0.61%USDC
$0.9997
-
0.03%TRX
$0.2451
-
0.69%DOGE
$0.1551
-
0.67%ADA
$0.6126
-
0.54%LEO
$9.1428
-
3.19%LINK
$12.63
+
1.47%AVAX
$19.02
-
1.11%XLM
$0.2443
+
3.11%TON
$2.9839
+
1.11%SHIB
$0.0₄1196
+
0.39%HBAR
$0.1651
+
3.81%SUI
$2.1130
+
0.86%BCH
$330.15
-
0.73%LTC
$75.61
+
0.88%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 Stabilizes Above $40K Support; Resistance Near $45K
Buyers could respond to short-term oversold signals, although upside appears limited.
Bitcoin (BTC) selling pressure is starting to wane after last week’s price dip. The cryptocurrency is holding short-term support at around $40,000, although upside appears to be limited near $43,000-$45,000.
BTC is down about 2% over the past 24 hours, although the price action has been fairly muted over the past few days.
STORY CONTINUES BELOW
The relative strength index (RSI) on the four-hour chart is rising from oversold levels, which typically precedes a brief price bounce. On the daily chart, the RSI is the most oversold since Dec. 10.
Upside momentum has weakened given BTC’s two-month long downtrend. This means sellers could remain active around resistance levels.
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.
