Bitcoin (BTC) Struggles to Break $70K Resistance, XRP and SHIB See Red

Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, continues to struggle to break through the $70,000 resistance level

Bitcoin (BTC) price action faced another wave of uncertainty on Monday as the world’s largest cryptocurrency by market capitalization continued to be rejected at the $70,000 resistance level.

Despite several attempts to break through this crucial level in recent days, BTC price remained largely bound within the $65,000 to $67,000 range. At the time of writing, BTC price trades at $67,584.44, up 0.77% in the last 24 hours.

However, the flagship digital asset is down 1.91% over the past week and up a modest 2.49% in the last 30 days. Bitcoin price trades 8.36% below its all-time high of $73,750, according to CoinMarketCap data.

Since October 2023, BTC price soared 98.15%.

Bitcoin Price Attempts To Break $70,000 Resistance

As seen from our price chart below, Bitcoin price tested the $65,000 to $66,000 support level several times in recent days and now encounters strong resistance at the $70,000 level.

Trading volume also declined amid market uncertainty, with the 30-day realized volatility for Bitcoin currently at 39.04%, indicating a period of lower volatility in the market.

A closer look at the technical analysis reveals that the Relative Strength Index (RSI) reads a value of 58.85, indicating that the bulls are still in control of the Bitcoin price action. However, the gradient of the line suggests that lower prices may be possible in the short term.

Monday’s market analysis also showed that XRP price is down 0.39% in the last 24 hours and currently trades at $0.5125. The altcoin encountered resistance at the $0.52 price level.

XRP price is down 12.00% over the past week and slid 13.14% in the last 30 days. From its all-time high of $0.75, XRP price is down 39.47%.

Significant resistance for XRP price remains at the $0.65 level.

XRP Price Chart - 24 Hour Price Change

Shiba Inu (SHIB) price fell 0.48% in the last 24 hours and trades at $0.000012. The second-largest meme coin by market capitalization is now trading 80.86% below its all-time high of $0.00008845.

SHIB price declined 12.00% over the past week and slid 18.35% in the last 30 days. But since October 2023, SHIB price gained a considerable 117.65%.

The meme coin encountered resistance at the $0.000013 price level.

SHIB Price Chart - 24 Hour Price Change

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