Main cryptocurrency evaluation companies Glassnode and GreeksLive have shared their newest views on Bitcoin’s worth motion, outlining key assist and resistance ranges amid ongoing market volatility.
Choices evaluation agency GreeksLive famous that buyers are carefully watching the $82,000 degree as an important assist for Bitcoin. In accordance with their newest report, it’s important that this degree is maintained to ensure that Bitcoin to proceed its upward momentum on larger time frames.
The broader crypto group is kind of involved about Bitcoin’s latest decline, particularly after the asset noticed a pointy 17% drop in three days. Analysts and merchants at the moment are debating whether or not this drop is an remoted incident or a sign of a bigger market correction.
Market members recommend that Bitcoin’s worth motion might flip uneven following the pullback and a retest of the $88,000 degree may very well be seen earlier than marking the subsequent main transfer.
On-chain information supplier Glassnode has recognized a key resistance zone between $96,000 and $98,000. The agency famous that Bitcoin noticed robust accumulation on this worth vary between late December 2024 and February 2025, resulting in a dense provide cluster.
“Whereas some addresses in these worth ranges are reallocating their BTC, this cluster of provide stays extraordinarily concentrated and will act as robust resistance if we revisit this degree,” Glassnode wrote in a latest social media replace.
*This isn’t funding recommendation.
