Share this article
Bitcoin Stabilizes in Tight Range; Support at $27K, Resistance at $30K-$35K
BTC has shown no signs of life, but a volatile price move is likely.
Updated May 11, 2023, 6:06 p.m. Published May 25, 2022, 6:05 p.m.
Make us preferred on Google
Bitcoin (BTC) is in a consolidation phase, which is defined by a tight price range with low trading volume. So far, the cryptocurrency has struggled to make a decisive move above $30,000, which is near the top of its recent range.
BTC is up by 3% over the past 24 hours, and momentum has improved over the past week. That means buyers could remain active above the $27,500 support level.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The sharp down move on May 12 toward $25,300 occurred on high volume, which could be a sign of capitulation, albeit less significant than in the previous sell-off.
Still, despite room for a price bounce, upside appears to be limited because of negative momentum readings on the weekly and monthly charts.
More For You
Institutions fuel tokenized RWA boom as retail looks set to follow suit
From treasuries and funds today to equities and private assets tomorrow.
What to know:
- Current drivers are tokenized treasuries, money market funds, and efficient collateral use by institutions.
- Next frontier includes tokenized equities, private credit, and illiquid assets like real estate, targeting retail demand for 24/7 fractional ownership.
Top Stories
