Glassnode Reveals: Support and Resistance Levels in Bitcoin Revealed in a Few Days! - Coin Bulletin

robot
Abstract generation in progress

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.

BTC1.85%
G5.44%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)