Share this article
BTC
$111,356.41
+
1.30%ETH
$2,678.13
+
3.99%USDT
$0.9999
-
0.03%XRP
$2.4481
+
2.19%BNB
$686.48
+
1.44%SOL
$182.68
+
5.37%USDC
$0.9997
-
0.01%DOGE
$0.2478
+
3.11%ADA
$0.8145
+
5.43%TRX
$0.2733
+
1.89%SUI
$3.8805
-
1.63%HYPE
$34.21
+
16.22%LINK
$16.79
+
4.37%AVAX
$25.31
+
8.29%XLM
$0.3060
+
3.75%SHIB
$0.0₄1554
+
3.42%BCH
$445.92
+
7.89%HBAR
$0.2055
+
3.77%LEO
$8.8871
+
0.11%TON
$3.1783
+
2.33%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 Stabilizes; Faces Resistance at $48K-$50K
Upside appears limited as bitcoin consolidates near support.
Bitcoin (BTC) continues to consolidate above the $42,000 support level as short-term momentum improves. The cryptocurrency was trading around $45,900 at press time, which is near the 200-day moving average, and is up about 2% over the past 24 hours.
Buyers are returning, although upside appears to be limited towards $48,000 to $50,000 resistance over the short-term.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The relative strength index (RSI) on the four-hour chart is rising from oversold levels last week and is not yet overbought. This could encourage a brief price bounce.
- Bitcoin remains below the 100-period moving average on the four-hour chart, which was rejected during the sell-off last week.
- BTC will likely consolidate around the current support zone, albeit vulnerable to higher volatility.
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.
