- Bitcoin faces significant selling pressure near the $90,500 level, a key short-term resistance.
- Several major altcoins are showing a positive divergence on the RSI, suggesting selling pressure may be easing.
- Overall, markets are stumbling as coins approach overhead resistance, indicating bears remain active at higher prices.
Bitcoin and several major altcoins weakened during recent trading as they approached overhead resistance levels, with notable selling around the $90,500 mark. The selling suggests that bearish traders remain active at higher price ranges. See the associated image here: image.
Market indicators point to shifts in momentum for some altcoins. Several major altcoins display a positive divergence on the RSI, which indicates that recent downward price moves are not fully matched by the indicator. RSI (relative strength index) is a momentum indicator that measures recent price change on a scale, often used to identify overbought or oversold conditions.
Traders should note the $90,500 level as a short-term resistance for Bitcoin. The combination of overhead resistance and active selling pressure has caused prices to falter near those levels. No new forecasts or additional claims were made beyond these observations.
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