Share this article
Bitcoin Rises Above $42K; Resistance at $46K-$50K
Momentum is turning bullish over the short term.
Updated May 11, 2023, 4:55 p.m. Published Mar 22, 2022, 5:45 p.m.
Bitcoin (BTC) is holding support above $40,000 as short-term momentum signals improve. For now, pullbacks appear to be limited, which means buyers could remain active toward the $46,000-$50,000 resistance zone.
The cryptocurrency is up 4% over the past 24 hours and is attempting to establish a higher price range on the charts.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
A decisive breakout above $46,000 is needed to shift the four-month-long downtrend. Typically, price rallies stall after retracing 50% of the prior down move, similar to what occurred in September 2021 around the $50,000 price level.
The relative strength index (RSI) on the daily chart remains in bullish territory (above 50), indicating renewed buying activity. On the weekly chart, momentum indicators are on the verge of turning positive for the first time since August, which preceded a strong price rally.
Still, a bearish set-up remains on the monthly chart, which means upside could be limited.
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
Altcoins plunge as bitcoin's $85,000 test triggers $550 million in liquidations
Solana tumbled below $120 to its weakest price since April, while SUI, DOGE and ADA also fell sharply.
What to know:
- Bitcoin is teetering on the brink of falling below $85,000 level, accelerating declines in the crypto market.
- Altcoins such as SOL, Cardano, ADA, SUI and dogecoin led Thursday's drop.
- $550M in liquidations hit derivatives markets, but analysts said the pullback looks like orderly deleveraging rather than full-blown panic.
Top Stories
