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Bitcoin Stabilizes After Pullback; Faces Resistance at $58K
Bitcoin stabilized after a near 5% drop during Asia hours. Momentum is slowing, which could limit rallies.
Bitcoin (BTC) declined about 5% during Asia hours as buyers took profit near the $58,000 resistance level. The cryptocurrency was trading around $56,200 at the time of writing. Price recoveries remain limited around $58,000 and $60,000 as long-term momentum slows.
- BTC held support around the 50-period volume weighted moving average on the four-hour chart, similar to April 29, which preceded a near 10% price rally.
- However, a pattern of lower highs on the four-hour relative strength index (RSI) suggests continued selling on rallies.
- Bitcoin returned below the 50-day moving average and has traded within a tight range since the April 17 sell-off. Lower support is seen around $52,000 which could settle additional profit taking.
Higit pang Para sa Iyo
Token edges ahead of bitcoin and ether over seven days, though thinning participation keeps the move in consolidation territory.
Ano ang dapat malaman:
- XRP has gained about 8 percent over the past week and 3 percent on the day, outperforming bitcoin and ether in a controlled advance rather than a sharp spike.
- Traders are watching the $1.44 resistance and $1.40 support levels as XRP tests a major structural zone and trades above its...
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