Share this article
BTC
$77,034.90
-
2.40%ETH
$1,479.83
-
5.69%USDT
$0.9991
-
0.05%XRP
$1.8409
-
4.82%BNB
$556.83
-
0.21%USDC
$1.0000
-
0.00%SOL
$106.00
-
1.44%TRX
$0.2322
+
1.75%DOGE
$0.1445
-
3.65%ADA
$0.5660
-
3.93%LEO
$9.0033
+
0.65%TON
$3.0087
-
2.97%LINK
$11.05
-
4.34%XLM
$0.2254
-
4.39%AVAX
$16.23
-
3.90%SUI
$1.9793
-
4.03%HBAR
$0.1495
-
1.69%SHIB
$0.0₄1066
-
6.89%OM
$6.1980
-
1.43%BCH
$272.15
-
2.20%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Bitcoin in Pullback Mode; Support Near $45K
Support above the $42K-$45K breakout should hold.
Bitcoin (BTC) buyers continued to take profits during Asia hours as short-term overbought signals appeared on the charts. The cryptocurrency is trading around initial support at $47,500 at press time and is down about 3% over the past 24 hours. A lower support zone between $42,000-$45,000 could stabilize the pullback.
STORY CONTINUES BELOW
- The relative strength index (RSI) on the four-hour chart is approaching oversold territory similar to April 18, which preceded a price bounce.
- However, the RSI on the daily chart is declining from overbought levels as buyers struggled near the $50,000 resistance level.
- Bitcoin’s 30% rally over the past month appears to be exhausted, although support above the $42,000 breakout should hold.
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.
