Share this article
BTC
$79,314.88
+
3.45%ETH
$1,573.44
+
5.99%USDT
$0.9997
+
0.02%XRP
$1.9095
+
7.40%BNB
$559.44
+
3.50%USDC
$1.0000
+
0.00%SOL
$109.62
+
9.02%DOGE
$0.1525
+
9.98%TRX
$0.2349
+
4.45%ADA
$0.5929
+
8.93%LEO
$8.9767
+
0.84%TON
$3.1152
+
3.58%LINK
$11.59
+
7.78%AVAX
$17.09
+
10.37%XLM
$0.2298
+
5.38%SUI
$2.0518
+
12.35%HBAR
$0.1578
+
15.35%SHIB
$0.0₄1125
+
3.08%OM
$6.3049
+
3.62%BCH
$279.02
+
7.44%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
Bitcoin Rising Toward $45K Resistance, Support at $40K
Downside momentum is starting to wane after a volatile month.
Bitcoin (BTC) buyers were active during Asian trading hours as pullbacks remain limited to the $40,000 support level. Initial resistance is seen at around $45,000, which could cap further upside over the short term.
BTC was trading at about $42,900 at press time and is down 3% over the past week. Downside momentum is starting to wane, which could keep buyers active, albeit within a range between $40,000 support and $50,000 resistance.
STORY CONTINUES BELOW
- The relative strength index (RSI) on the four-hour chart continues to rise from extreme oversold levels last week, suggesting that the price is starting to stabilize after a volatile month.
- The RSI on the hourly chart, however, is declining from overbought levels. That means intraday buyers are starting to take some profits, although support at $40,000-$42,000 could stabilize a brief pullback.
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.
