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Bitcoin Stalls at Support, Resistance at $50K
Upside momentum is slowing into the weekend, which can limit price rises.
Updated May 11, 2023, 5:20 p.m. Published Sep 10, 2021, 11:33 a.m. 1 min read
Bitcoin is roughly flat over the past 24 hours, settling near the $46,000 support level. Upside appears to be limited towards $50,000 resistance as momentum slows into the weekend.
The sell-off is stabilizing, leaving BTC down about 7% over the past week. Buyers will need to defend support above the $42,000 breakout level to resume the relief rally from July.
- The relative strength index (RSI) on the daily chart continues to decline from overbought levels over the past month.
- The current neutral reading on the RSI is similar to June and July, which occurred during consolidation phase.
- Resistance remains strong between $50,000 and $55,000, as the nearly 70% price rally from $30,000 in July appears to be exhausted.
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The rally is fueled by NEAR Intents, the cross-chain system that has processed over $19 billion in volume and generated $32 million in fees.
알아야 할 것:
- NEAR token climbed 15% over 24 hours to $2.8, extending a month-long rally that has nearly doubled its price (up 90%).
- The rally is fueled by NEAR Intents, the cross-chain system that has processed over $19 billion in volume and generated $32 million in fees.
- Investors are anticipating a June...
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