TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Bitcoin above $42k support, resistance at $46k-$48k

Bitcoin above $42k support, resistance at $46k-$48k
CoinDesk Analysis TeamCoinDesk Analysis TeamCoinDesk

Bitcoin (BTC) buyers defended the $40,000-$42,000 support range over the weekend as selling pressure slows. The cryptocurrency was trading around $43,800 at press time and is up about 1.8% over the past 24 hours. The next level of resistance is around $46,000-$48,000, which could limit further upside over the short-term.

  • The relative strength index (RSI) on the four-hour chart is not yet overbought, suggesting buyers could remain active towards resistance levels.

  • BTC registered a series of lower price highs over the past two weeks as sellers returned around the $50,000 resistance level.

  • A break above the 100-period moving average on the four-hour chart could yield further upside towards $48,000. For now, indicators show pullbacks should remain limited around the $40,000 support level.

Author

CoinDesk Analysis Team

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

More from CoinDesk Analysis Team
Share:

Editor's Picks

Solana Price Forecast: Bearish grip tightens on SOL amid broader market sell-off

Solana Price Forecast: Bearish grip tightens on SOL amid broader market sell-off

Solana is down 4% on Friday, extending losses below $80 and marking a nearly 10% decline so far this week. The broader cryptocurrency market is seeing heavy selling, with Bitcoin diving below $70,000 and wiping out more than $1 billion in the derivatives market. This adds to the sell-side dominance in SOL futures amid persistent outflows.

Cardano Price Forecast: On-chain and derivatives weakness point to further ADA downside

Cardano Price Forecast: On-chain and derivatives weakness point to further ADA downside

Cardano extends losses, trading below $0.169 on Friday, with losses nearing 4% so far this week. Moreover, ADA is heading into its sixth consecutive weekly correction, down more than 30% since early October.

Top 3 Price Predictions: BTC, ETH and XRP extend losses as downside momentum dominates

Top 3 Price Predictions: BTC, ETH and XRP extend losses as downside momentum dominates

Bitcoin, Ethereum, and Ripple extend their sell-off on Friday as bearish momentum gathers. BTC breaks below the $70,000 psychological threshold, while ETH loses the $2,000 support level, raising the risk of further losses. Meanwhile, XRP continues to slide as sellers maintain control, threatening a deeper correction toward $1.00.

Hyperliquid gains on centralized exchanges as open interest crosses $18B

Hyperliquid gains on centralized exchanges as open interest crosses $18B

Hyperliquid's (HYPE) open interest climbed to a record $18.1 billion in September as the decentralized exchange gained ground against major centralized trading platforms, with its share of combined open interest across eight leading exchanges rising to 11.7% in Q3.
Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin: Bears tighten grip as BTC eyes fifth weekly loss

Bitcoin (BTC) remains under pressure, down over 3% this week, trading near $75,500 on Friday and heading for its fifth straight weekly loss. Persistent outflows from US-listed BTC spot Exchange Traded Funds (ETFs), a sharp sell-off in US technology stocks, and rising market liquidations are weighing on sentiment and limiting Crypto King’s recovery attempts.