Share this article
BTC
$82,559.49
-
0.34%ETH
$1,781.06
-
0.75%USDT
$0.9997
+
0.01%XRP
$2.1287
+
0.07%BNB
$591.61
-
0.35%USDC
$1.0001
+
0.02%SOL
$117.53
-
0.96%DOGE
$0.1672
-
0.25%ADA
$0.6472
-
1.54%TRX
$0.2382
-
0.70%LEO
$8.9955
-
4.80%LINK
$12.62
-
1.05%TON
$3.2250
-
5.42%XLM
$0.2522
-
2.35%AVAX
$17.84
-
1.02%SHIB
$0.0₄1214
-
0.74%SUI
$2.1959
-
1.54%HBAR
$0.1598
-
2.73%LTC
$82.35
-
2.57%OM
$6.2506
-
0.79%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Bitcoin Rises to $30K; Resistance at $35K
BTC is on track to register a positive momentum signal on the daily chart.
Bitcoin (BTC) continues to trade around $30,000, which is near the bottom of a year-long price range. The cryptocurrency appears to be stabilizing, although resistance at $33,000 and $35,000 could stall an upswing in price.
BTC is up by 2% over the past 24 hours and down by 24% over the past 30 days. The recent sell-off extended bitcoin's short-term downtrend despite oversold conditions on the chart.
STORY CONTINUES BELOW
The relative strength index (RSI) on the daily chart is rising from oversold levels, reached on May 12 when BTC declined toward $25,300. Typically, oversold signals precede a price bounce, similar to what occurred in late January.
Further, on the daily chart, BTC on track to register a positive momentum signal, per the MACD indicator for the first time since late March. Still, momentum signals remain negative on the weekly and monthly charts, which suggests limited upside from here.
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.
