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Bitcoin Holds Support, Approaching Resistance Around $60K
The daily relative strength index (RSI) is back in neutral territory after reaching overbought levels earlier this month.
Updated Mar 6, 2023, 3:28 p.m. Published Mar 24, 2021, 11:17 a.m.
The long-term uptrend in bitcoin (BTC) remains intact, with support around $50,000. However, upside momentum continues to slow as bitcoin consolidates below the $60,000 resistance level.
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- The daily relative strength index (RSI) is back in neutral territory after reaching overbought levels earlier this month.
- Previous episodes of RSI moving from overbought to neutral resulted in price recoveries along the 50-day volume weighted moving average.
- Traders should monitor the break below trend support on the four-hour chart, which could limit upside around $58,000-$60,000.
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XRP Lands on Solana, Ethereum and Others, in Boost for Ripple Ecosystem
Wrapped XRP will be tradable on Solana, Ethereum and other chains, allowing exposure across DeFi applications without unregulated third-party bridges.
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- Hex Trust is launching wrapped XRP (wXRP) to enhance XRP's DeFi and cross-chain utility, with over $100 million in total value locked.
- The wXRP will be tradable on Ethereum and other chains, allowing exposure across DeFi applications without unregulated third-party bridges.
- Despite the launch, XRP's price remains range-bound, with significant supply resistance above $2.05 and demand support near $2.00.
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