Bitcoin
$44,362.58-7.39%
Ethereum
$3,101.79-8.53%
XRP
$0.940451-12.23%
Cardano
$2.09-11.44%
Polkadot
$29.29-12.82%
Stellar
$0.283179-11.86%
Dogecoin
$0.213320-10.47%
Chainlink
$24.80-12.14%
Uniswap
$22.12-8.51%
Polygon
$1.18-11.70%
Litecoin
$160.63-10.40%
Bitcoin Cash
$561.10-10.67%
Cosmos
$38.58-0.93%
Wrapped Bitcoin
$44,352.36-7.44%
Algorand
$1.72-15.50%
Filecoin
$75.70-8.94%
The Graph
$0.718595-12.89%
Tron
$0.094625-10.20%
Ethereum Classic
$50.09-11.17%
Aave
$310.55-10.98%
Tezos
$5.54-13.68%
NEO
$43.05-12.77%
EOS
$4.43-14.51%
Monero
$236.51-12.26%
IOTA
$1.36-14.79%
BitTorrent
$0.003468-11.05%
Bitcoin SV
$145.14-7.53%
Maker
$2,521.35-10.96%
Waves
$24.12-15.13%
Dash
$175.20-11.37%
Decred
$129.06-7.70%
Decentraland
$0.719733-11.48%
NEM
$0.161022-11.80%
ICON
$1.58-16.19%
Zcash
$121.38-12.98%
OmiseGO
$8.43-11.65%
Qtum
$10.74-13.47%
NuCypher
$0.286761-13.95%
Yearn Finance
$30,259.55-9.39%
Bitcoin Gold
$57.75-11.96%
Paxos Standard
$0.999701+0.89%
Basic Attention Token
$0.667941-10.35%
0x
$0.942156-13.53%
Bancor
$3.66-9.13%
Band Protocol
$7.98-13.61%
Siacoin
$0.016155-14.45%
Ren
$0.782729-16.60%
Kava.io
$5.35-12.90%
Fetch.ai
$0.671887-16.40%
Nano
$4.83-14.94%
Loopring
$0.413201-11.72%
Storj
$1.18-13.76%
Numeraire
$42.29-7.72%
Lisk
$3.17-13.27%
Civic
$0.437270-16.13%
Orchid
$0.333501-9.67%
PAX Gold
$1,766.67-0.19%
Augur
$22.79-12.28%
Aragon
$5.51-14.67%
Enzyme
$107.10-9.63%
district0x
$0.156223-11.47%
Kyber Network
$1.54-13.27%
SingularDTV
$0.001389-3.39%
Tether
$1.00-0.04%
USD Coin
$1.00-0.01%
Dai
$1.00-0.00%

Bitcoin Stabilizes After Sell-off, Resistance Seen Around $56K

For now, bitcoin continues to hold long-term trend support above $50,000, with lower support around $42,000.

Mar 25, 2021 at 11:33 a.m. UTC
Updated Sep 14, 2021 at 12:31 p.m. UTC

The near 10% sell-off in bitcoin (BTC) during Asian hours has stabilized around $52,000. Bitcoin is now oversold on the four-hour chart, which could support a slight recovery towards $56,000.  

  • The last oversold reading on the relative strength index (RSI) resulted in a near 7% rise in BTC on March 22. However, the move was short-lived as sellers were active around the $56,000 resistance level.
  • Bitcoin is now roughly 10% below its break of trend support on the four-hour chart and has erased about 50% of its rally from the Feb. 28 price low.
  • For now, bitcoin continues to hold long-term trend support above $50,000, with lower support around $42,000.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...