The Bitcoin price has dropped by almost 2% in the last 24 hours, down 3% from yesterday’s peak. However, new on-chain developments suggest potential for a rally in 2026. On-Balance Volume (OBV) and Hodler net position change metrics show signs of increased buying pressure and conviction among long-term holders.

OBV shows a bearish divergence in December, but recently broke above a trend line, indicating stronger buying pressure. Hodler net position change turned positive after months, with long-term holders adding Bitcoin for the first time since September. The rally requires both sides – sustained buying pressure and continued hodler accumulation.

Bitcoin faces resistance at $90,840, with failed attempts to break through since December 12. A relief rally could target $97,190, $101,710, and $107,470 if price clears key levels. Support lies at $86,915, with potential downside to $80,560 if breached. Long-term investors’ positioning suggests a possible relief rally towards $90,840 and beyond.

Source: BeInCrypto

Read more at Yahoo Finance: Is Bitcoin Price Headed for a Relief Rally? Charts Have the Answer