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Glassnode Reveals: Support and Resistance Levels in Bitcoin Revealed in a Few Days! - Coin Bulletin
Glassnode, the on-chain data platform, has announced that Bitcoin's recent price movements have confirmed two important levels.
The chart shared by Glassnode confirms these levels with important metrics such as the MVRV ratio, which represents the profit/loss situation of short-term investors, and the realized price.
Support and resistance levels have been identified
According to the data, the $89,000 level emerged as a strong support in line with the Short Term Holder Realized Price (88.5 thousand dollars), representing the average purchase cost of short-term investors.
On the other hand, the $98,000 level, which is one of the largest accumulation levels for Bitcoin, is currently standing out as a strong resistance point above the spot price.
According to CoinGecko data, Bitcoin is trading just below $99,000 after a 2.2% increase in the last 24 hours.