BTC needs to clear $79,200 to fuel upward momentum, analysis shows

Bitcoin has broken through $78,000 after approximately 75 days of sideways trading and is now testing two resistance levels simultaneously, CoinDesk reported. The first resistance level is the True Market Mean, currently at $78,200. According to Checkonchain, this metric reflects the average purchase price of the actual circulating supply, excluding lost and dormant coins, and indicates the price level where significant selling pressure is concentrated. The second resistance level is the Short-Term Holder Realized Price (STHRP) at $79,200. The current spot price is below the average entry price for this cohort, placing them at a slight loss. In mid-January, Bitcoin also tested the STHRP around $98,000 but was rejected by resistance. If Bitcoin can break through this zone, both indicators would flip to support levels, likely fueling upward momentum. However, a failure to do so could prolong the sideways trend and open the door to a potential further decline.