Currently, is trading at $68,880. The price is held within a parallel channel after failing to extend above the upper boundary near $72,600. Key moving averages remain well above the current trading price, suggesting downside risk, with the 50-day EMA around $71,000 acting as a resistance.
The Relative Strength Index (RSI) on the daily chart stays just below 50, and the Moving Average Convergence Divergence (MACD) line remains below the signal line and slips further under the zero mark. This indicates persistent selling pressure.
Immediate resistance emerges near $69,200, just ahead of the channel top near $72,600, a daily close above this zone would be needed to challenge $76,600. On the downside, immediate support can be seen at $65,900; a break below this level would expose follow-through toward the next downside target around $64,000.
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