Ethereum was once again nearing a breakout of its $1,200 nivå, as bearish sentiment returned to start the weekend. Following price rebounds on Friday, cryptocurrency markets were back in the red, and are trading 0.68% lägre när det skrivs. Bitcoin also slipped in today’s session.
Innehåll
Bitcoin
Bitcoin (BTC) was once again trading lower to start the weekend, as the token moved back towards a recent price floor.
BTC/USD fell to an intraday low of $16,564.61 i dagens pass, which comes less than a day after hitting a high of $16,795.20.
The move sees BTC move closer to this week’s support point of $16,000, which has been in place since the FTX collapse.
Tittar på diagrammet, today’s drop in price comes as a hurdle was hit on the 14-day relative strength index (RSI).
This wall of 38.00 on the indicator has seemingly prevented bulls from recapturing the $17,000 märke, and in turn opened the door to a bearish reentry.
Should Saturday’s bearish momentum continue to intensify throughout the course of the weekend, BTC will likely edge closer to $16,000.
Ethereum
In addition to BTC, eterum (ETH) also stumbled lower on Saturday, with prices nearing a breakout of the $1,200 nivå.
Efter en hög av $1,222.20 on Friday, the world’s second largest cryptocurrency dropped to a low of $1,200.48 tidigare idag.
Flytten kom som ETH/USD fell below a recent ceiling of resistance at $1,220, with bulls now fighting to reject any further declines.
När jag skrev, ETH is trading at $1,209.44, as traders have so far rejected a drop below $1,200.
This is due to two things, first the 10-day (red) moving average has begun to trend upwards, which has brought back a level of bullish sentiment to the token.
Dessutom, the 14-day relative strength index (RSI) continues to track above a key floor of 37.75, which appears to be a major reason why we haven’t seen any further significant sell-offs.
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