Share this article
BTC
$105,377.86
-
0.54%ETH
$2,652.35
+
1.27%USDT
$1.0000
-
0.04%XRP
$2.2418
-
0.43%BNB
$668.08
+
0.32%SOL
$156.85
-
2.69%USDC
$0.9994
-
0.02%DOGE
$0.1918
-
2.24%TRX
$0.2732
+
0.87%ADA
$0.6818
-
1.02%HYPE
$36.83
+
0.30%SUI
$3.2403
-
1.76%LINK
$14.10
-
1.46%AVAX
$20.98
-
2.15%XLM
$0.2697
-
1.64%LEO
$8.8767
+
1.04%BCH
$407.59
+
0.23%TON
$3.1619
-
1.31%SHIB
$0.0₄1300
-
1.70%HBAR
$0.1698
-
2.47%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Bitcoin Rebounds to Above $30K, Resistance Seen at $34K
Bitcoin buyers respond to oversold conditions.
Bitcoin (BTC) returned to above its $30,000 support level during Asian trading hours as buyers reacted to oversold conditions. The next levels of resistance are seen at around $32,000 and $34,000 given the intermediate-term downtrend.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The quick rebound to above $30,000 is similar to the June 22 shakeout that preceded a brief price rally. Bitcoin was trading at around $31,400 at press time and is up about 6% over the past 24 hours.
- The relative strength index (RSI) on the four-hour chart registered an oversold signal on Monday as bitcoin dipped below $30,000. The RSI is not yet overbought, which could keep buyers active toward $34,000 resistance.
- The 100-period moving average on the four-hour chart is sloping downward as buyers have been quick to take profits on rallies.
- Short-term momentum is improving as bitcoin returns to a monthlong range. The rebound to above $30,000 suggests selling pressure from June is starting to slow.
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
