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BTC
$94,332.50
+
1.71%ETH
$1,772.76
+
1.19%USDT
$1.0004
+
0.01%XRP
$2.1933
+
0.62%BNB
$604.51
+
1.35%SOL
$153.32
+
3.32%USDC
$0.9999
-
0.00%DOGE
$0.1809
+
3.92%ADA
$0.7124
+
2.74%TRX
$0.2435
-
0.77%SUI
$3.6903
+
21.52%LINK
$14.97
+
3.25%AVAX
$22.30
+
1.70%XLM
$0.2826
+
5.57%LEO
$9.1302
-
1.00%HBAR
$0.1980
+
8.82%SHIB
$0.0₄1400
+
5.62%TON
$3.2077
+
3.01%BCH
$367.82
+
6.08%LTC
$85.70
+
5.30%Bitcoin Range-Bound Above $35K-$37K Support; Resistance at $40K
The sideways price range could result in higher volatility over the next two weeks.
Bitcoin (BTC) remains in a tight trading range, although buyers maintained support at $37,500 over the weekend. Still, the cryptocurrency faces strong resistance beyond $40,000, which could limit additional upside over the short term.
BTC was trading at $38,700 at press time and is roughly flat over the past 24 hours.
STORY CONTINUES BELOW
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The downward sloping 100-day moving average has kept the four-month downtrend intact. Recent sideways trading, however, could result in volatile price swings over the next two weeks.
Buyers will need to hold support above $35,000-$37,000 in order to preserve the long-term uptrend.
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.
