Bitcoin
$47,617.29-1.46%
Ethereum
$3,547.04-1.12%
XRP
$1.08-3.32%
Cardano
$2.41-3.23%
Polkadot
$35.31-3.20%
Stellar
$0.329718-3.04%
Dogecoin
$0.239170-3.52%
Chainlink
$29.55-3.78%
Uniswap
$26.10-3.62%
Polygon
$1.38-1.34%
Litecoin
$184.72-2.17%
Bitcoin Cash
$638.10-2.75%
Algorand
$2.02+0.49%
Cosmos
$36.76+7.69%
Wrapped Bitcoin
$47,650.34-1.41%
Filecoin
$83.94-2.15%
The Graph
$0.854667-5.18%
Tron
$0.115398-4.25%
Ethereum Classic
$57.81-2.27%
Aave
$382.71-5.07%
Tezos
$6.75-2.76%
NEO
$50.59-3.85%
EOS
$5.00-1.95%
Monero
$263.25-2.60%
IOTA
$1.51-6.61%
BitTorrent
$0.004016-3.10%
Waves
$30.90+1.24%
Bitcoin SV
$156.78-0.11%
Maker
$2,960.58-3.27%
Dash
$207.50-0.64%
Decred
$142.72-1.90%
ICON
$2.05-6.71%
Decentraland
$0.838634-2.39%
NEM
$0.188162-0.91%
Zcash
$137.73-0.93%
Qtum
$12.66-2.60%
NuCypher
$0.332123-3.16%
Bitcoin Gold
$68.11-0.70%
Yearn Finance
$34,587.31-5.17%
OmiseGO
$8.82-1.74%
Basic Attention Token
$0.772000-2.94%
0x
$1.13+5.70%
Fetch.ai
$0.901620-6.71%
Paxos Standard
$0.990058-0.17%
Ren
$1.00-8.28%
Band Protocol
$9.77+1.30%
Bancor
$4.18-2.11%
Kava.io
$6.36-1.92%
Siacoin
$0.018730-4.01%
Nano
$5.66-4.28%
Loopring
$0.469485-4.48%
Storj
$1.42-3.39%
Civic
$0.531030-0.54%
Lisk
$3.60-4.85%
Numeraire
$43.98-2.96%
Orchid
$0.374684-2.52%
PAX Gold
$1,763.54-2.10%
Augur
$26.30-2.17%
Aragon
$5.98-3.08%
Enzyme
$119.75-6.16%
district0x
$0.174776-6.59%
Kyber Network
$1.85-2.14%
SingularDTV
$0.001204-6.30%
Tether
$1.00+0.01%
USD Coin
$1.00+0.02%
Dai
$1.00+0.00%

Bitcoin Holds Support, Testing $50K Resistance

Short-term overbought signals could trigger a brief pullback.

Sep 2, 2021 at 11:12 a.m. UTC
Updated Sep 2, 2021 at 4:13 p.m. UTC

Bitcoin (BTC) buyers were active during Asian trading hours as they defended support at around the 200-day moving average. The cryptocurrency is testing initial resistance of around $50,000 and is up about 5% over the past 24 hours. A breakout above current levels could yield further upside toward $55,000.

  • The relative strength index (RSI) on the four-hour chart is approaching overbought territory, which typically precedes brief pullbacks similar to what happened on Aug. 23 when buyers failed to break above $50,000 resistance.
  • Initial support is seen at the 100-period moving average on the four-hour chart of about $47,800, which could stabilize a pullback.
  • Upside momentum has faded over the past few weeks, although buyers will likely defend lower support as bitcoin consolidates.

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.

Damanick does not own cryptocurrencies.

Loading...