Share this article
BTC
$83,278.68
-
0.71%ETH
$1,803.64
-
0.72%USDT
$0.9998
+
0.02%XRP
$2.1466
+
0.70%BNB
$592.80
-
0.80%SOL
$119.65
-
2.55%USDC
$1.0002
+
0.02%DOGE
$0.1687
-
1.46%ADA
$0.6546
-
0.88%TRX
$0.2375
-
0.59%LEO
$9.1377
-
0.34%LINK
$12.80
-
1.11%TON
$3.2562
-
4.61%XLM
$0.2519
-
3.00%AVAX
$17.83
-
1.99%SHIB
$0.0₄1235
+
0.32%SUI
$2.2134
-
2.05%HBAR
$0.1620
-
1.36%LTC
$82.69
-
2.06%OM
$6.2658
-
0.04%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Bitcoin Holding Support Above $40K; Faces Resistance at $43K-$45K
Buyers could remain active into the Asia trading day as momentum improves.
Bitcoin (BTC) continues to hold support above $40,000 as momentum improves on intraday charts.
The cryptocurrency is down about 4% over the past week, although multiple oversold readings suggest buyers could remain active into the Asia trading day. As of press time Wednesday, bitcoin was changing hands at $41,822.
STORY CONTINUES BELOW
Still, upside appears to be limited toward the $43,000-$45,000 resistance zone. And $48,000 could present another hurdle for buyers given the series of lower price highs since November.
The relative strength index (RSI) on the four-hour chart approached an oversold level on Tuesday, similar to what occurred on Jan. 5, which preceded a near 10% price bounce a few days later.
On the daily chart, the RSI has remained in oversold/neutral territory for about a month, which is common during a price downtrend.
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.
