BTC/USD Is Set To Reclaim $50K High as Bitcoin Battles $48K Resistance
BTC Price Consolidates Below Recent High as Bitcoin Battles $48K Resistance – March 30, 2022
On March 28, BTC/USD rallied to a new high of $48,192 as Bitcoin battles $48K resistance. For the past 48 hours, buyers have been struggling to breach the resistance at $48,000. Bitcoin risks further decline as the largest cryptocurrency approaches the overbought region. BTC price is at level 69 of the Relative Strength Index for period 14.
Resistance Levels: $70,000, $75,000, $80,000 Support Levels: $50,000, $45,000, $40,000
For the past three days, Bitcoin bulls have been trapped below the $48,000 resistance zone. The market is retesting the historical price level of January 2, 2022. On January 2 price action, the bulls failed to break the $48,000 resistance level as the market declined to the low of $33,855 on January 22. Bitcoin has regained bullish momentum as it retests the $48,000 resistance level. On the upside, if Bitcoin bulls breach the $48,000 resistance, the market will rally above $51,000. However, Bitcoin will face another resistance at $52,085 high. Conversely, if buyers fail to breach the recent high, Bitcoin will fall and retrace above the breakout level of $45,400 support.
Opera Incorporates Bitcoin, Solana, Polygon, And Five Other Blockchains
Opera is one of the major crypto-friendly internet browsers. The company has announced the incorporation of eight blockchains to enable it introduce Web3 to more than 380 million mobile and desktop users worldwide. The Crypto Browser project is a Web3-focused initiative for facilitating navigation across decentralized applications (DApp), games, and metaverse platforms. Opera has added support for eight major blockchain ecosystems, including Bitcoin (BTCC), Solana (SOL), Polygon (MATIC), StarkEx, Ronin, Celo, Nervous DAO, and IXO. Now Opera users can access the Polygon and Solana DApp ecosystems, as well as “the benefits of Layer 2 Defi via StarkWare-powered DiversiFi.” In addition, users can access Polygon proof-of-stake (POS) blockchain and Ethereum L2 ecosystem via StarkEx.
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Meanwhile, Bitcoin’s upward move has been restricted below the recent high as Bitcoin battles $48K resistance. Buyers are yet to break the recent high. The crypto’s price is fluctuating between $46,750 and $48,000 price levels. The uptrend will resume when the recent high is breached.
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