Bitcoin
$42,401.39-2.23%
Ethereum
$2,932.97-4.78%
XRP
$0.938751-1.74%
Cardano
$2.12-0.98%
Polkadot
$28.32-6.08%
Stellar
$0.278800-2.50%
Dogecoin
$0.209978-0.74%
Chainlink
$22.75-6.17%
Uniswap
$20.09-6.87%
Polygon
$1.14-2.43%
Litecoin
$153.69-4.74%
Bitcoin Cash
$521.84-4.71%
Cosmos
$33.20-10.73%
Algorand
$1.70-5.77%
Wrapped Bitcoin
$42,434.29-2.36%
Filecoin
$71.16-5.24%
The Graph
$0.701008-3.96%
Tron
$0.091940-3.14%
Ethereum Classic
$48.02-4.17%
Aave
$288.03-5.84%
Tezos
$4.96-9.83%
Monero
$228.56-3.91%
NEO
$39.64-5.71%
EOS
$4.09-4.87%
IOTA
$1.34+0.26%
BitTorrent
$0.003312-3.53%
Bitcoin SV
$143.40-2.31%
Maker
$2,427.99-4.17%
Waves
$23.36-4.05%
Dash
$165.30-5.80%
Decred
$111.52-7.52%
Decentraland
$0.661869-4.55%
ICON
$1.55-8.07%
NEM
$0.151852-4.31%
Zcash
$116.97-2.68%
OmiseGO
$9.04-18.92%
NuCypher
$0.284694-0.93%
Paxos Standard
$0.999913+0.14%
Yearn Finance
$29,176.60-3.29%
Qtum
$9.89-6.81%
Bitcoin Gold
$52.67-5.80%
Basic Attention Token
$0.642190-4.29%
0x
$0.887765-5.61%
Bancor
$3.46-4.53%
Kava.io
$5.44+3.93%
Ren
$0.775505-7.34%
Fetch.ai
$0.664355-8.52%
Siacoin
$0.015036-4.71%
Band Protocol
$7.33-6.49%
Nano
$4.62-7.47%
Loopring
$0.392499-4.89%
Numeraire
$43.61+6.60%
Storj
$1.09-7.21%
Lisk
$2.91-7.22%
Civic
$0.412000-3.77%
Orchid
$0.335621-0.27%
PAX Gold
$1,781.50+0.82%
Enzyme
$154.61+44.76%
Augur
$20.55-7.49%
Aragon
$4.79-5.84%
district0x
$0.148367-4.24%
Kyber Network
$1.48-3.97%
SingularDTV
$0.0013410.00%
Tether
$1.00+0.03%
USD Coin
$1.00+0.01%
Dai
$1.00+0.03%

Bitcoin Rebounds to Above $30K, Resistance Seen at $34K

Bitcoin buyers respond to oversold conditions.

Jul 21, 2021 at 11:35 a.m. UTC
Updated Sep 14, 2021 at 1:28 p.m. UTC

Bitcoin (BTC) returned to above its $30,000 support level during Asian trading hours as buyers reacted to oversold conditions. The next levels of resistance are seen at around $32,000 and $34,000 given the intermediate-term downtrend.

The quick rebound to above $30,000 is similar to the June 22 shakeout that preceded a brief price rally. Bitcoin was trading at around $31,400 at press time and is up about 6% over the past 24 hours.

  • The relative strength index (RSI) on the four-hour chart registered an oversold signal on Monday as bitcoin dipped below $30,000. The RSI is not yet overbought, which could keep buyers active toward $34,000 resistance.
  • The 100-period moving average on the four-hour chart is sloping downward as buyers have been quick to take profits on rallies.
  • Short-term momentum is improving as bitcoin returns to a monthlong range. The rebound to above $30,000 suggests selling pressure from June is starting to slow.

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...