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Bitcoin Eases After Rejection at $58.5K, Support at $54K
A key technical indicator signals that upward momentum may be over.
Updated May 11, 2023, 6:43 p.m. Published Oct 14, 2021, 10:49 a.m.
Bitcoin looks heavy on short-duration technical charts after it failed to keep gains above $58,000 early Thursday. The cryptocurrency was trading near $57,350 at press time.
- On the chart above, the relative strength index (RSI) has decoupled from the rising price since Oct. 6. The indicator’s negative divergence suggests a loss of upward momentum and scope for a pullback.
- The immediate support is seen at $54,000, a level where buyers have consistently stepped in over the past week. A drop below there would allow for a slide to $50,000.
- Progress above daily highs near $58,500 is needed to negate RSI’s bearish divergence and open the doors for new record highs above $64,801.
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- 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.
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LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.
What to know:
- Terra Classic (LUNC) surged 74% to $0.0000072, up 160% in the past week, on exploding trading volume, ahead of Terraform Labs founder Do Kwon's sentencing on Dec. 11.
- The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns, with 849 million LUNC destroyed in the past week.
- The token's momentum is also fueled by Binance's pause on LUNC withdrawals ahead of the Terra Chain's v2.18 upgrade, which aims to improve network stability, despite the token remaining volatile.
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