The cryptocurrency market has rebounded into positive territory following a minor decline, as reported by CoinStats.
Bitcoin (BTC) has experienced a 1.69% increase in its value over the past 24 hours.
Examining the hourly chart reveals that BTC’s price has surpassed the local resistance level of $92,576. Should buyers maintain control and keep prices above this threshold, an upward trajectory toward the $94,000 mark appears likely in the near future.
Looking at a broader timeframe, Bitcoin’s price is currently positioned closer to resistance levels than support zones.
If BTC manages to break through the $94,652 barrier decisively, it could unleash enough momentum to challenge the psychologically significant $100,000 range.
From a medium-term perspective, conditions remain consistent. A weekly close above resistance may trigger a substantial rally pushing prices into the $100,000-$105,000 bracket before month-end.
At present moment of writing, Bitcoin is trading around $92,954.