Share this article
BTC
$99,782.24
-
2.96%ETH
$2,192.37
-
8.82%USDT
$1.0008
+
0.04%XRP
$1.9734
-
5.67%BNB
$609.49
-
3.76%SOL
$129.93
-
6.21%USDC
$1.0005
+
0.04%TRX
$0.2617
-
4.79%DOGE
$0.1484
-
6.55%ADA
$0.5296
-
6.97%HYPE
$34.70
+
6.75%WBT
$48.05
-
1.13%BCH
$445.35
-
6.67%LEO
$8.9860
+
0.61%SUI
$2.3823
-
8.52%LINK
$11.35
-
7.73%XLM
$0.2241
-
6.63%AVAX
$16.12
-
5.69%TON
$2.6661
-
8.00%SHIB
$0.0₄1037
-
6.34%Sign Up
- Back to menuCryptocurrencies
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars
Bitcoin Range-Bound; Support at $27K, Resistance at $33K
Technical indicators are neutral, and upside appears limited from here.
Bitcoin (BTC) continues to trade in a tight range, struggling to make a decisive break above or below $30,000. The cryptocurrency found support around $27,500, which has stabilized price action over the past week.
BTC was trading at around $29,300 at press time and was down by as much as 3% over the past 24 hours.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The relative strength index (RSI) on the daily chart is rising from oversold levels, but remains capped below the 50 neutral mark. A move above 50 in the daily RSI would confirm a brief recovery in price. For now, upside appears to be limited, initially toward the $33,000-$35,000 resistance zone.
Momentum signals are improving on the daily chart, but remain negative on the weekly and monthly charts. That could increase the risk of a breakdown in price, similar to what occurred in earlier this month.
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.
Top Stories
