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Bitcoin price briefly touched $79,400 in morning trading on Monday before pulling back sharply, as $80,000 ceiling expectations defied another attempt.
The initial rise was driven by a report that Iran had offered the United States an opportunity to reopen the Strait of Hormuz, which briefly increased risk in markets. However, this recovery evaporated. High oil prices and international tensions reignited, sending Bitcoin down $78,000 in a matter of hours.
Asian stocks, such as the Nikkei and Kospi indices, which reached the volume level, gave little support to the crypto market, as Bitcoin recorded several failed attempts. The difference between $ 79,000 and $ 80,000 continues to act as a strong resistance, strengthening the upper resistance of the price.
Bitcoin Price Prediction: Will the next attempt to break $80,000 succeed?
Bitcoin is trading below the $77,000 level this morning, among well-known technical levels. The Composite Technical Indicator shows a 40% trade mark based on 13 indicators, while the Relative Strength Index (RSI) remains at 62 in neutral areas.
CoinGlass data shows an increase in the trading volume between $78,000 and $80,000 in two separate pools. For his part, analyst Elja said about the area of ​​$78,000 as previous support turned into resistance on the weekly chart; Emphasizing that failure to close above this level this week will completely undermine the idea of ​​recovery.
If Bitcoin can close the week above $79,400, which is the first major resistance, the next target will be $82,000. But another rejection of $79,000 could lead to the fall of the “bear flag” at $75,000, which would also open the door to reaching the important $73,500 level.
Bitcoin Hyper Project Looks Up as Bitcoin Faces Resistance
Bitcoin price holding at $78,000 for the third week in a row is starting to look like a distribution channel rather than a rally, with buyers taking resistance instead of going through it. For entrepreneurs who are looking to get away from large investments, risk-return calculations are starting to rely on early projects that offer asymmetric growth opportunities.
The Bitcoin Hyper project ($HYPER) is one of the projects that attracts attention in this regard, because it presents itself as the first Phase 2 of Bitcoin with full integration of the Solana Virtual Machine (SVM), which means executing smart contracts at high speed and taking advantage of the security of the Bitcoin network.
The pre-sale of the project has managed to collect $32.5 million The current price of the token is $0.0136With the opening of the staking feature, which provides a high annual return until 30% For first time participants.
The main vision of the project’s architecture is to combine the reliable Bitcoin model with the SVM system, and the native connection through the Decentralized Canonical Bridge to ensure that Bitcoin is transferred without the need for intermediaries.
A note Bitcoin touches $79,400 and declines: Will it break the $80,000 barrier? appeared for the first time Cryptonews Arabic.