Price Analysis

Bitcoin Fails to Remain Above $10,100, Is it a Short-lived Upsurge or is it Aimed to Sustain?

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  • Bitcoin soared above 10,100 twice today, lacks stability there
  • BTC is battling with resistance above $10,070
  • The coin seems to have support near $10,060

Bitcoin is comparatively bullish against U.S.Dollar since yesterday, and it is today when the leading crypto coin has traded above $10,000. The price rally has put an impact over XRP and ETH as XRP is above $0.31 and ETH has climbed above $220.

4 hours ago, Bitcoin was trading with its price at $10,063.77. After two spikes near $10,100, Bitcoin had a major price surge near $10,147.69 with an increase of 0.62%. Later, it pulled back near $10064.00 with a decline of 0.82%. Since then, the coin has not touched $10,100 price mark and at 07:03:44 UTC, Bitcoin was trading at $10070.28.

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BTC/USD Price Chart

Bitcoin Price Chart
Bitcoin Price Chart

BTC is still under selling pressure but if it continues an uptrend, the coin can step out of it. However, the coin is below its 30-day SMA, proving its current slow pace.

Bitcoin appears to have support near $10,060 at present which is not far from its current price. The coin is battling with price barriers above $10,070.

Bitcoin Price Prediction & Technical Indicators

Bitcoin’s volatility falls between low to moderate at present, according to the MACD chart which is in the bearish zone. RSI for the coin is at 30 indicating oversold momentum. Bitcoin may see major resistance at $10,236.87 and support levels at $9,647.89 and $9,483.86.

Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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