Bitcoin rebounds above $84,000, faces resistance at $85,000

Bitcoin staged a recovery on Monday, rising above $84,000 after sharp losses sent its price below $81,000 late last week. Ethereum and XRP also rebounded, climbing back to $2,500 and $1.40 respectively as the broader cryptocurrency market regained ground. Despite the rally, analysts observed that Bitcoin’s technical indicators remain mixed. The cryptocurrency is holding above its key daily exponential moving averages, supporting a bullish technical structure in the near term. Bitcoin traded at $84,110, comfortably above the 50-day EMA at $80,195, the 100-day EMA at $76,411, and the 200-day EMA at $75,744.

Source: CoinTurk News