Bitcoin
$44,091.41+4.27%
Ethereum
$3,130.71+8.86%
XRP
$0.970762+5.03%
Cardano
$2.25-0.76%
Polkadot
$29.96+3.25%
Stellar
$0.280265+2.50%
Dogecoin
$0.207542+1.05%
Uniswap
$25.14+32.27%
Chainlink
$24.00+3.56%
Polygon
$1.16+6.05%
Algorand
$1.83+8.43%
Cosmos
$39.80+4.43%
Litecoin
$153.46+2.83%
Bitcoin Cash
$511.66-0.04%
Wrapped Bitcoin
$44,080.08+4.38%
The Graph
$0.693601+4.76%
Tron
$0.089810+1.44%
Filecoin
$57.00+2.44%
Ethereum Classic
$47.93+2.92%
Tezos
$6.46-7.79%
Aave
$302.36+13.23%
Monero
$243.57+3.54%
NEO
$39.67+4.66%
EOS
$4.06+2.98%
IOTA
$1.21+1.12%
BitTorrent
$0.003250+2.11%
Bitcoin SV
$131.30-3.99%
Waves
$24.19+3.66%
Maker
$2,352.49+3.27%
Dash
$165.04+3.49%
Decentraland
$0.710457+6.22%
Decred
$115.24+2.61%
ICON
$1.64+8.36%
NEM
$0.150065+4.18%
Zcash
$112.16+1.99%
OmiseGO
$9.16+5.59%
Paxos Standard
$1.00-0.97%
Yearn Finance
$31,005.98+5.66%
Ren
$1.11+12.22%
NuCypher
$0.280653-0.41%
Qtum
$9.87+5.37%
Bitcoin Gold
$52.84+1.24%
Basic Attention Token
$0.648426+3.73%
Fetch.ai
$0.804217-0.80%
0x
$0.914827+4.43%
Kava.io
$5.81+3.08%
Bancor
$3.60+5.70%
Band Protocol
$7.62+5.67%
Siacoin
$0.015240+5.45%
Nano
$4.61+3.99%
Loopring
$0.382088+1.40%
Storj
$1.10+4.69%
Numeraire
$41.65+2.38%
Civic
$0.437356+1.12%
Lisk
$2.88+2.92%
Orchid
$0.322818+0.86%
PAX Gold
$1,766.17+0.32%
Enzyme
$150.52-4.66%
Augur
$21.18+1.74%
Aragon
$4.72+3.58%
district0x
$0.152181+3.97%
Kyber Network
$1.49+6.71%
SingularDTV
$0.001180-4.52%
Tether
$1.00-0.04%
USD Coin
$1.00-0.05%
Dai
$1.00-0.04%

Bitcoin Stalls at Resistance; Could Face Lower Support at $56K

However, if BTC breaks below $57,000, buyers will likely wait to enter around lower support at $56,000.

May 10, 2021 at 11:28 a.m. UTC
Updated Sep 14, 2021 at 12:52 p.m. UTC

Buyers continued to take profit around $59,000 after a near 5% rise in bitcoin (BTC) on Sunday. The cryptocurrency is currently at support, trading around $57,800 at the time of writing. Stronger support is seen around the $56,000 level.

  • Bitcoin is trading near the 100-period moving average on the hourly chart, which suggests profit taking could stabilize during the day.
  • However, if BTC breaks below $57,000, buyers will likely wait to enter around lower support at $56,000.
  • The relative strength index (RSI) on the hourly chart is not yet oversold, which means price could face further downside after failing to hold above $59,000 over the weekend.
  • Bitcoin has retraced about 23% of the recovery from the May 4 low around $53,000. The cryptocurrency continues to consolidate within a broader uptrend.  

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...