Share this article
Bitcoin Enters Resistance Zone Between $40K-$45K
BTC appears to be overbought on intraday charts.
Updated May 11, 2023, 3:44 p.m. Published Mar 9, 2022, 6:50 p.m.
Bitcoin (BTC) rallied as much as 10% over the past 24 hours as buyers reacted to short-term oversold readings.
Resistance, or the pointwhere an uptrend is expected to pause temporarily due to a concentration of supply, at around the $40,000-$45,000 price zone could stall the current upswing, similar to what occurred last week.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The relative strength index (RSI) on the four-hour chart is oversold, which typically precedes a brief pullback in price. On the daily chart, however, the RSI is neutral, suggesting that lower support around $37,000-$40,000 could stabilize pullbacks into the Asia trading day.
For now, bitcoin remains in a tight trading range, although downside momentum has slowed over the past two months. That means bulls could remain active at short-term support levels.
BTC was trading near $42,000 at press time and is down 3% over the past week.
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.
More For You
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.
Top Stories
