Share this article
Bitcoin Weighed Down by Resistance; Support at $35K-$37K
Upside could be limited with the potential for higher volatility next week.
Updated May 11, 2023, 6:22 p.m. Published Mar 11, 2022, 6:57 p.m.
Bitcoin (BTC) continues to struggle within a choppy trading range between $37,000 and $45,000. The cryptocurrency is roughly flat over the past week, although the loss of upside momentum could keep sellers active over the short-term.
The downward sloping 100-day moving average, currently at $43,300, has weighed on price action over the past few months. That indicates a downtrend, evidenced by a series of lower price highs since November.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
While the downtrend has stabilized within a tight trading range, a lower price high from March 2 indicates limited upside beyond $46,000.
Meanwhile, higher price lows from Jan. 23 have kept BTC anchored above $37,000 support in recent months. A series of higher price lows and strong overhead resistance, however, typically results in a breakout or breakdown in the direction of the prevailing trend. In this case, BTC’s downtrend could resume with higher volatility.
On the other hand, downside exhaustion signals are starting to appear across global equities, especially in Europe and Asia. That could lead to a brief short-squeeze in speculative assets next week, albeit with limited upside.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Ethereum’s P2P Layer Is Improving Just as Institutional ETH Buys Pick Up
Early PeerDAS performance is proof that the Ethereum Foundation can now ship complex networking improvements at scale.
What to know:
- Ethereum co-founder Vitalik Buterin said that the network is addressing its lack of peer-to-peer networking expertise, highlighting the progress of PeerDAS.
- PeerDAS, a prototype for Data Availability Sampling, is crucial for Ethereum's scalability and decentralization through sharding.
- BitMine Immersion Technologies has significantly increased its Ethereum holdings, viewing it as a strategic investment in the network's future scaling capabilities.
Top Stories
