Bitcoin (BTC) bounced at $46,000 support on Aug. 14 after an attempt to crack major resistance ended in rejection.

BTC/USD 1-hour price chart (Bitstamp). Source: TradingView

Bitcoin rejects at $48,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rising to tackle a giant sell wall during Saturday, just to reverse downwards to Fri's levels.

Every bit Cointelegraph reported, the area of seller pressure from $47,000 and upwards had been a formidable feature on the daily nautical chart throughout the calendar week, with Bitcoin taking several days to prepare its attack.

In the event, the wall was only partially broken before momentum ran out and BTC/USD returning to more than familiar territory.

At the time of writing, BTC toll action focused effectually $46,500, a archetype "Bart Simpson" structure characterizing the by 24 hours' movements.

"Null special virtually this move, it'due south just typical for a weekend," Cointelegraph contributor Michaël van de Poppe summarized.

"Nevertheless, the heavy resistance zone was hit betwixt $47-49K, and no quantum happened for Bitcoin. Remaining cautious."

A suitable volume would be needed to sustain another run-up and flip fresh resistance levels to back up — a breakout without that volume could ultimately fail and price overly optimistic traders

Meanwhile, fellow trader and analyst Rekt Capital eyed the forthcoming daily shut for confirmation of the $46,000 support zone reached only a matter of days ago.

The mood nonetheless remained buoyant on Sat as multiple signals pointed to the potential for connected upside.

The good times roll for Cardano

On altcoins, Cardano's ADA token continued to impress among the superlative fifty cryptocurrencies by market cap, gaining 8% on the twenty-four hour period to striking and laissez passer $2.20.

Related: Price analysis 8/13: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, SOL, LTC

After cementing $2 support, ADA/USD thus went on to striking its highest levels since mid-May, when it came off $two.50 all-time highs amid a ocean of change in Bitcoin.

ADA/USD 1-twenty-four hour period candle nautical chart (Binance). Source: TradingView

Elsewhere, major altcoins were flat, with the exception of XRP, which delivered 13% daily gains to accomplish $ane.xx.

The overall cryptocurrency market cap stood at $ane.97 trillion.