• bitcoinBitcoin (BTC) $ 64,173.00
  • ethereumEthereum (ETH) $ 3,173.00
  • tetherTether (USDT) $ 0.999497
  • bnbBNB (BNB) $ 563.96
  • solanaSolana (SOL) $ 168.84
  • usd-coinUSDC (USDC) $ 0.999687
  • xrpXRP (XRP) $ 0.607626
  • staked-etherLido Staked Ether (STETH) $ 3,172.76
  • dogecoinDogecoin (DOGE) $ 0.124057
  • the-open-networkToncoin (TON) $ 6.60
  • cardanoCardano (ADA) $ 0.394837
  • tronTRON (TRX) $ 0.135920
  • avalanche-2Avalanche (AVAX) $ 27.34
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 64,244.00
  • shiba-inuShiba Inu (SHIB) $ 0.000016
  • polkadotPolkadot (DOT) $ 5.73
  • chainlinkChainlink (LINK) $ 12.96
  • bitcoin-cashBitcoin Cash (BCH) $ 352.47
  • nearNEAR Protocol (NEAR) $ 5.55
  • uniswapUniswap (UNI) $ 7.17
  • leo-tokenLEO Token (LEO) $ 5.82
  • daiDai (DAI) $ 0.999644
  • litecoinLitecoin (LTC) $ 68.54
  • pepePepe (PEPE) $ 0.000012
  • wrapped-eethWrapped eETH (WEETH) $ 3,312.76
  • matic-networkPolygon (MATIC) $ 0.504005
  • internet-computerInternet Computer (ICP) $ 9.58
  • kaspaKaspa (KAS) $ 0.175865
  • ethena-usdeEthena USDe (USDE) $ 0.997822
  • ethereum-classicEthereum Classic (ETC) $ 21.95
  • aptosAptos (APT) $ 6.63
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.20
  • stellarStellar (XLM) $ 0.101131
  • moneroMonero (XMR) $ 154.20
  • mantleMantle (MNT) $ 0.817859
  • blockstackStacks (STX) $ 1.69
  • dogwifcoindogwifhat (WIF) $ 2.48
  • makerMaker (MKR) $ 2,612.70
  • crypto-com-chainCronos (CRO) $ 0.089878
  • filecoinFilecoin (FIL) $ 4.17
  • okbOKB (OKB) $ 39.26
  • render-tokenRender (RENDER) $ 5.99
  • arbitrumArbitrum (ARB) $ 0.697205
  • hedera-hashgraphHedera (HBAR) $ 0.064653
  • cosmosCosmos Hub (ATOM) $ 5.90
  • injective-protocolInjective (INJ) $ 23.61
  • bittensorBittensor (TAO) $ 316.98
  • immutable-xImmutable (IMX) $ 1.43
  • vechainVeChain (VET) $ 0.026962
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998136
  • arweaveArweave (AR) $ 29.37
  • optimismOptimism (OP) $ 1.69
  • suiSui (SUI) $ 0.741319
  • bonkBonk (BONK) $ 0.000027
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,552.93
  • the-graphThe Graph (GRT) $ 0.185926
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,221.00
  • flokiFLOKI (FLOKI) $ 0.000176
  • bitget-tokenBitget Token (BGB) $ 1.13
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,298.04
  • thorchainTHORChain (RUNE) $ 4.31
  • whitebitWhiteBIT Coin (WBT) $ 10.07
  • theta-tokenTheta Network (THETA) $ 1.41
  • lido-daoLido DAO (LDO) $ 1.57
  • notcoinNotcoin (NOT) $ 0.013464
  • ondo-financeOndo (ONDO) $ 0.934669
  • jupiter-exchange-solanaJupiter (JUP) $ 0.963152
  • aaveAave (AAVE) $ 87.34
  • jasmycoinJasmyCoin (JASMY) $ 0.026059
  • pyth-networkPyth Network (PYTH) $ 0.349124
  • fantomFantom (FTM) $ 0.442921
  • based-brettBrett (BRETT) $ 0.121129
  • coredaoorgCore (CORE) $ 1.29
  • celestiaCelestia (TIA) $ 5.68
  • algorandAlgorand (ALGO) $ 0.135018
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,166.23
  • sei-networkSei (SEI) $ 0.347915
  • quant-networkQuant (QNT) $ 70.02
  • mantra-daoMANTRA (OM) $ 1.20
  • gatechain-tokenGate (GT) $ 7.37
  • flowFlow (FLOW) $ 0.631701
  • msolMarinade Staked SOL (MSOL) $ 203.36
  • kucoin-sharesKuCoin (KCS) $ 9.44
  • elrond-erd-2MultiversX (EGLD) $ 32.28
  • ethereum-name-serviceEthereum Name Service (ENS) $ 26.01
  • eosEOS (EOS) $ 0.569818
  • beam-2Beam (BEAM) $ 0.016896
  • bitcoin-svBitcoin SV (BSV) $ 42.15
  • axie-infinityAxie Infinity (AXS) $ 5.62
  • galaGALA (GALA) $ 0.022412
  • flare-networksFlare (FLR) $ 0.018272
  • tokenize-xchangeTokenize Xchange (TKX) $ 10.04
  • bittorrentBitTorrent (BTT) $ 0.00000083
  • heliumHelium (HNT) $ 4.76
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,233.29
  • neoNEO (NEO) $ 10.90
  • dydx-chaindYdX (DYDX) $ 1.26
  • popcatPopcat (POPCAT) $ 0.768728
  • ethenaEthena (ENA) $ 0.437808
  • fasttokenFasttoken (FTN) $ 2.34
  • usddUSDD (USDD) $ 0.998817
  • akash-networkAkash Network (AKT) $ 3.05
  • ordinalsORDI (ORDI) $ 34.72
  • tezosTezos (XTZ) $ 0.725890
  • the-sandboxThe Sandbox (SAND) $ 0.304942
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,420.73
  • starknetStarknet (STRK) $ 0.520510
  • roninRonin (RON) $ 1.96
  • nexoNEXO (NEXO) $ 1.17
  • fraxFrax (FRAX) $ 0.996066
  • ecasheCash (XEC) $ 0.000033
  • worldcoin-wldWorldcoin (WLD) $ 2.15
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.007060
  • conflux-tokenConflux (CFX) $ 0.146984
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000029
  • paypal-usdPayPal USD (PYUSD) $ 0.999048
  • frax-etherFrax Ether (FRXETH) $ 3,165.46
  • decentralandDecentraland (MANA) $ 0.317134
  • chilizChiliz (CHZ) $ 0.066082
  • tether-goldTether Gold (XAUT) $ 2,373.49
  • zebec-protocolZebec Protocol (ZBC) $ 0.012713
  • zksyncZKsync (ZK) $ 0.157892
  • pendlePendle (PENDLE) $ 3.71
  • mog-coinMog Coin (MOG) $ 0.000002
  • oasis-networkOasis Network (ROSE) $ 0.085477
  • raydiumRaydium (RAY) $ 2.18
  • gnosisGnosis (GNO) $ 220.22
  • mina-protocolMina Protocol (MINA) $ 0.493419
  • book-of-memeBOOK OF MEME (BOME) $ 0.007945
  • dexeDeXe (DEXE) $ 9.48
  • havvenSynthetix Network (SNX) $ 1.63
  • iotaIOTA (IOTA) $ 0.156740
  • swethSwell Ethereum (SWETH) $ 3,375.75
  • aioz-networkAIOZ Network (AIOZ) $ 0.472689
  • apecoinApeCoin (APE) $ 0.753928
  • wormholeWormhole (W) $ 0.282359
  • klay-tokenKlaytn (KLAY) $ 0.135068
  • astarAstar (ASTR) $ 0.070902
  • layerzeroLayerZero (ZRO) $ 4.50
  • nervos-networkNervos Network (CKB) $ 0.011118
  • true-usdTrueUSD (TUSD) $ 0.999713
  • safeSafe (SAFE) $ 1.14
  • staked-frax-etherStaked Frax Ether (SFRXETH) $ 3,468.19
  • livepeerLivepeer (LPT) $ 14.33
  • axelarAxelar (AXL) $ 0.643733
  • xdce-crowd-saleXDC Network (XDC) $ 0.031079
  • 1inch1inch (1INCH) $ 0.364157
  • zcashZcash (ZEC) $ 29.95
  • illuviumIlluvium (ILV) $ 67.19
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000081
  • pax-goldPAX Gold (PAXG) $ 2,363.94
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.90
  • theta-fuelTheta Fuel (TFUEL) $ 0.065226
  • bitcoin-goldBitcoin Gold (BTG) $ 24.38
  • aerodrome-financeAerodrome Finance (AERO) $ 0.763176
  • apenftAPENFT (NFT) $ 0.00000042
  • kavaKava (KAVA) $ 0.386439
  • project-galaxyGalxe (GAL) $ 3.28
  • iotexIoTeX (IOTX) $ 0.043652
  • usdbUSDB (USDB) $ 1.01
  • wemix-tokenWEMIX (WEMIX) $ 0.998756
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.972424
  • aevo-exchangeAevo (AEVO) $ 0.465856
  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.077959
  • g-tokenGravity (G) $ 0.053833
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.003864
  • turboTurbo (TURBO) $ 0.005553
  • mx-tokenMX (MX) $ 3.87
  • h2o-daoH2O Dao (H2O) $ 0.455651
  • stader-ethxStader ETHx (ETHX) $ 3,285.36
  • safepalSafePal (SFP) $ 0.785691
  • woo-networkWOO (WOO) $ 0.187951
  • availAvail (AVAIL) $ 0.206264
  • ether-fiEther.fi (ETHFI) $ 2.04
  • jito-governance-tokenJito (JTO) $ 2.74
  • compound-ethercETH (CETH) $ 63.81
  • memecoin-2Memecoin (MEME) $ 0.014927
  • manta-networkManta Network (MANTA) $ 0.886249
  • singularitynetSingularityNET (AGIX) $ 0.524455
  • arkhamArkham (ARKM) $ 1.35
  • compound-governance-tokenCompound (COMP) $ 47.69
  • stepnGMT (GMT) $ 0.142427
  • golemGolem (GLM) $ 0.323626
  • rocket-poolRocket Pool (RPL) $ 15.62
  • aragonAragon (ANT) $ 7.95
  • beldexBeldex (BDX) $ 0.047481
  • corgiaiCorgiAI (CORGIAI) $ 0.000931
  • blurBlur (BLUR) $ 0.179221
  • osmosisOsmosis (OSMO) $ 0.468660
  • superfarmSuperVerse (SUPER) $ 0.693782
  • kusamaKusama (KSM) $ 20.35
  • curve-dao-tokenCurve DAO (CRV) $ 0.255191
  • zilliqaZilliqa (ZIL) $ 0.016064
  • dymensionDymension (DYM) $ 1.56
  • dashDash (DASH) $ 25.16
  • echelon-primeEchelon Prime (PRIME) $ 6.97
  • ponkePONKE (PONKE) $ 0.544561
  • 0x0x Protocol (ZRX) $ 0.346782
  • enjincoinEnjin Coin (ENJ) $ 0.176084
  • justJUST (JST) $ 0.029488

Bitcoin Price Takes a Step Back: Analyzing The Recent Correction

0 16

Bitcoin price failed to continue higher above the $63,650 resistance zone. BTC is now correcting gains and might revisit the $60,850 support.

  • Bitcoin started a downside correction from the $63,650 resistance zone.
  • The price is trading below $62,500 and the 100 hourly Simple moving average.
  • There is a connecting bearish trend line forming with resistance at $61,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair might struggle to start a fresh increase above the $62,250 resistance zone.

Bitcoin Price Dips Again

Bitcoin price struggled to extend gains above the $63,650 and $63,800 resistance levels. A high was formed at $63,798 and the price started a downside correction.

The price declined below the $63,000 level. The bears were able to push it below the $62,500 level and the 100 hourly Simple moving average. There was also a move below the 50% Fib retracement level of the upward move from the $59,951 swing low to the $63,798 high.

Bitcoin price is now trading below $62,500 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance at $61,850 on the hourly chart of the BTC/USD pair.

The bulls are now trying to protect the $61,400 zone and the 61.8% Fib retracement level of the upward move from the $59,951 swing low to the $63,798 high. If there is another increase, the price could face resistance near the $61,850 level and the trend line.

The first key resistance is near the $62,250 level. The next key resistance could be $62,500. A clear move above the $62,500 resistance might start a steady increase and send the price higher.

Bitcoin Price Takes a Step Back: Analyzing The Recent Correction

In the stated case, the price could rise and test the $63,250 resistance. Any more gains might send BTC toward the $63,650 resistance in the near term.

More Losses In BTC?

If Bitcoin fails to climb above the $62,250 resistance zone, it could continue to move down. Immediate support on the downside is near the $61,400 level.

The first major support is $60,850. The next support is now forming near $60,500. Any more losses might send the price toward the $60,000 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $61,400, followed by $60,850.

Major Resistance Levels – $62,250, and $62,500.

Source

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