The price of bitcoin tested resistance at $460 over the weekend ending 15th May, but failed to break through what could prove to be a key level going forward. Overall, the digital currency’s price fluctuated close to $460, a figure which has not been surpassed since 10th May, reaching as much as $458.87 on Sunday, 15th May, according to the CoinDesk USD Bitcoin Price Index (BPI).
Further, a series of near misses in attempts to build momentum above this mark suggests that $460 could become a key benchmark for the price moving forward.
For instance, bitcoin’s price opened at $455.75 on 15th May, briefly falling below $455 when it reached a low of $454.91 between 12:15 and 12:29 UTC. For the remainder of the day, prices stayed between $455 and $460, breaking through $458 to reach a high of $458.65 between 17:45 and 17:59 UTC, but upward movements remained elusive.
The digital currency continued to linger above $458 for much of 15th May, reaching $458.69 between 19:30 and 19:44 UTC before closing at $457.99 during the time between 19:45 and 19:59 UTC. Bitcoin prices proceeded to stay below $458 for the next few hours, before hitting a high of $458.08 between 21:45 and 21:59 UTC.
As the 16th May session began, bitcoin prices opened at $457.85, but have since retreated lower to a press time value of $454 as the day’s trading nears a close. Continued stability
Though traders may not have observed any sought-after gains, the weekend showed bitcoin is continuing its recent stability.
Bitcoin prices have been relatively flat in the last few weeks, fluctuating largely between $450 and $460 during the seven days through 13th May and between $445 and $455 the period before.
Although the week ending 29th April saw bitcoin surge above $470 and below $440, the digital currency has […]
