Share this article
BTC
$78,875.68
+
3.46%ETH
$1,565.28
+
5.51%USDT
$0.9997
+
0.04%XRP
$1.8721
+
6.44%BNB
$556.94
+
3.42%USDC
$1.0001
+
0.01%SOL
$107.93
+
7.61%DOGE
$0.1509
+
9.54%TRX
$0.2349
+
3.97%ADA
$0.5816
+
6.70%LEO
$8.9858
+
0.53%TON
$3.0846
+
3.39%LINK
$11.60
+
8.81%XLM
$0.2285
+
5.19%AVAX
$16.90
+
9.97%SHIB
$0.0₄1123
+
3.77%SUI
$2.0168
+
11.41%HBAR
$0.1550
+
15.20%OM
$6.2628
+
3.10%BCH
$278.86
+
7.82%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Bitcoin Holds Support; Next Resistance at $50K
Buyers could remain active on pullbacks this week as bitcoin cleared important technical levels.
Bitcoin (BTC) rallied above $45,000 as upside momentum improved over the past two weeks. The next level of resistance is seen at $50,000, which could limit further upside given short-term overbought signals. Bitcoin is up about 2% over the past 24 hours – around $45,600 at press time and holding support above $40,000.
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 overbought for the second time since July 31, which preceded a near-10% price decline.
- However, the weekly RSI is rising from neutral levels with a positive momentum signal for the first time since October 2020, which reignited the long-term uptrend.
- Buyers could remain active on pullbacks this week as bitcoin cleared important technical levels such as the 100-day moving average.
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.
