Name Price24H (%)
Bitcoin (BTC)
$36,258.00
-5.31%
Ethereum (ETH)
$2,456.12
-6.40%
Binance Coin (BNB)
$370.03
-5.81%
Cardano (ADA)
$1.03
-6.94%
Bitcoin Stalls Near Resistance; Support Around $40K-$42K
News

Bitcoin Stalls Near Resistance; Support Around $40K-$42K

Bitcoin (BTC) pulled back after buyers took some profits near the $44,000-$45,000 resistance zone.

The cryptocurrency remains in a short-term downtrend, although support around $40,000 could stabilize the pullback.

BTC is down about 2% over the past 24 hours and is roughly flat over the past week. A decisive break above $45,000 is needed to reverse the short-term downtrend, but slowing momentum suggests price weakness could persist into the Asia trading day.

The relative strength index (RSI) on the four-hour chart declined near overbought levels, similar to what occurred late-December, which preceded a pullback in price. Buyers will likely remain on the sidelines until oversold conditions materialize, most likely over the next few days.

Source: CoinDesk.com

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