The 0.0046 pivot area – which I said would come into play in my last Factom technical article – was broken today, and it also acted as resistance today, just a few hours before the break. In my previous article, I also stated that if price gets over 0.0046 – a really towards the 0.0052 pivot area was likely, and I still maintain that sentiment. Unless the market gets under 0.0046 over the next few days, the path of least resistance is up!
The 0.0046 area has already turned into support today, so that is another good technical sign that market participants are watching this price level very closely.
If there 0.0046 doesn’t hold as support and price plunges underneath this level again, the next pivot area can be found at 0.00425. This price level has acted as resistance about three times since the 21st, and turned into support on the 22nd. Mark this one on your charts.
Disclaimer: This is not trading/investment advice!
Chart Source: https://poloniex.com/exchange#btc_fct
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Cloud mining continues to gain massive traction as 2026 inches closer. In tough economic…
Solana Breakpoint wasn’t just another conference this year. It doubled as a stage for Jupiter…
Ripple has scored a major regulatory milestone in Europe. AMINA Bank AG, a Swiss-regulated digital…
a16z just dropped its annual report, and the message is clear: crypto isn’t slowing down.…
Ethereum has activated BPO-1, a protocol adjustment that increases blob capacity per block from 6…
CryptoBench just landed. Developed by ChainOpera AI and Princeton AI Lab, under the guidance of…