Bitcoin Surpasses $90,000 Again: Can This Rally Last?
Current Price Action: Bitcoin is trading around $90,000 after a volatile period, showing signs of recovery from a sharp decline, but remains below recent highs, indicating a corrective rebound rather than a definitive trend change.
Market Sentiment: The Fear & Greed Index indicates extreme fear among traders, suggesting heightened uncertainty and risk aversion, which historically correlates with increased volatility rather than immediate trend reversals.
Technical Indicators: Momentum indicators are neutral, with Bitcoin below both the 50-day and 200-day moving averages, maintaining a bearish technical structure despite short-term price stabilization.
Key Levels to Watch: The $90,000 level serves as a psychological pivot, with the 50-day moving average near $93,000–$94,000 acting as the first major resistance, while failure to maintain the current recovery could lead to renewed downside risks.
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Technical Analysis for MMT
Technical Sentiment Analysis for Momentum (MMT) As of , Momentum (MMT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MMT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MMT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Momentum (MMT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0255 | 0.0689 | 0.108 | 0.151 | 0.19 | 0.233 | 0.272 |
| Fibonacci | 0.0689 | 0.1 | 0.12 | 0.151 | 0.183 | 0.202 | 0.233 |
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