Share this article
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.
Updated Mar 6, 2023, 3:31 p.m. Published May 4, 2021, 11:21 a.m.
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- 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.
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.
Plus pour vous
Coinbase Reopens India Signups, Targets Fiat On-Ramp in 2026 After Two-Year Freeze
Coinbase halted services entirely in 2023, off-boarded millions of Indian users and shuttered local access while reassessing regulatory exposure.
Ce qu'il:
- Coinbase has resumed onboarding users in India, marking its return to the market after a two-year hiatus due to regulatory issues.
- The exchange is currently allowing crypto-to-crypto trading and plans to reintroduce fiat on-ramps next year.
- Despite regulatory challenges, Coinbase is investing in India, including increasing its stake in local exchange CoinDCX.
Top Stories
