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BTC
$77,204.66
-
2.15%ETH
$1,482.53
-
5.15%USDT
$0.9993
-
0.02%XRP
$1.8612
-
2.83%BNB
$553.08
-
0.76%USDC
$0.9999
-
0.00%SOL
$104.19
-
3.32%TRX
$0.2317
+
1.69%DOGE
$0.1450
-
2.58%ADA
$0.5728
-
1.64%LEO
$9.0049
+
0.87%TON
$2.9705
-
2.27%LINK
$11.04
-
3.56%XLM
$0.2251
-
3.22%AVAX
$16.58
-
2.75%HBAR
$0.1522
+
1.67%SHIB
$0.0₄1087
-
4.72%SUI
$1.9638
-
3.15%OM
$6.1533
-
2.31%BCH
$273.49
-
1.47%Bitcoin Above $42K Support, Resistance at $46K-$48K
Buyers could remain active at support level as the sell-off stabilizes.
Bitcoin (BTC) buyers defended the $40,000-$42,000 support range over the weekend as selling pressure slowed. The cryptocurrency was trading at about $43,800 at press time and is up about 1.8% over the past 24 hours. The next level of resistance is at around $46,000-$48,000, which could limit further upside over the short term.
- The relative strength index (RSI) on the four-hour chart is not yet overbought, suggesting buyers could remain active toward resistance levels.
- BTC registered a series of lower price highs over the past two weeks as sellers returned at around the $50,000 resistance level.
- A break above the 100-period moving average on the four-hour chart could yield further upside toward $48,000. For now, indicators show pullbacks should remain limited at around the $40,000 support level.
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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.
