Bitcoin Stalls Near $108.7K As Momentum Indicators Reflect Neutral Market Tone

Bitcoin trades at $107,512, holding between key support at $107,379 and resistance at $108,771.

RSI (54.69) and MACD on the 1-hour chart reflect low momentum and range-bound behavior.

Price remains near all-time highs, but lacks volume confirmation for a breakout above resistance.

The price action of Bitcoin over recent times has moved into a constricting range, with it standing at the current price of $107,512 following a 0.5% 24-hour gain. This places the asset just below an important level of resistance at $108,771, with support remaining strong at $107,379

While it is so close to these significant levels, Bitcoin is still trading in a relatively stable range, with traders closely watching gauges for directional activity. Volume remains steady, though with less volatility compared to previous sessions. Technical analysis is now pivotal to the direction of the market.

Price Tests Upper Range as Resistance Holds Firm

Bitcoin’s current trading position reflects an upward grind that has stalled just short of the previously tested resistance near $108,771. The most recent daily candle shows mild upward momentum, with price gaining $1,092 from the previous close. However, attempts to break past resistance have so far failed to yield confirmation.

The structure on the long-term chart indicates a comprehensive rally that started at around 30,000, which has led the recent validation at the all-time highs. The trend has been maintained, but the price action has gone sideways in the short-term.

The current consolidation forms just under peak levels, where rejection may create short-term pullbacks or additional ranging behavior. Traders now watch for a confirmed break above resistance or a bounce off support as key near-term signals.

Technical Indicators Remain Range-Bound on the Hourly Chart

On the hourly time frame, the Relative Strength Index (RSI) closed near 54.69, slightly above the neutral midpoint. The reading shows that buying pressure exists, but not at levels associated with overbought conditions. A previous dip to 41.57 indicates underlying weakness, though recovery from that level has been sustained.

Source: TradingView

MACD readings also reflect a balanced market. The MACD line and signal line have remained near each other for several sessions, suggesting minimal momentum in either direction. The histogram lacks sharp divergence, further confirming a phase of consolidation. These signals reinforce the view that price could remain within range unless significant volume or catalysts emerge.

Support Zone Remains Key as Volatility Tightens

Bitcoin's nearest support remains at $107,379, which aligns closely with the lower edge of the current price range. This level has held during intraday dips, offering a short-term buffer during low-volume retracements. Price action remains above this support despite the rejection near resistance, keeping the market in a balanced state.

If volume increases, traders expect faster resolution of the ongoing range. However, until then, both support and resistance levels remain in focus as the price navigates this tight structure. Momentum remains neutral, awaiting direction from either macro signals or internal breakout pressure.