Bitcoin, Ethereum teknisk analys: ETH Närmare 2-månaders låg, när försäljning efter sammanslagning fortsätter

Ethereum continued to fall on Saturday, as the token’s post-Merge sell-off intensified to start the weekend. Prices of the world’s second largest cryptocurrency fell to their lowest level since July, as bearish sentiment in the market remained high. Bitcoin was also lower today, once again trading below $20,000.

Bitcoin

Bitcoin (BTC) was once again trading below $20,000, as bearish sentiment in the token remained to start the weekend.

BTC/USD slipped to an intraday low of $19,400.08 tidigare på dagen, which is a level that has historically been a price floor.

Following the collision with this support point, bulls reentered the market, attempting, and being briefly successful, in taking prices to a high of $20,021.74.

As a result of the high level of volatility, prices have since moved away from those highs, med BTC currently trading at $19,854.17 i skrivande stund.

Tittar på diagrammet, the 14-day relative strength index (RSI) continues to track near a floor of 41.10.

Some do not expect any significant moves in bitcoin until the index moves away from this point, and starts climbing towards a ceiling at the 50.00 nivå.

Ethereum

It has been a turbulent week for ethereum (ETH), as volatility pre and post-Merge sent prices down by over $300.

ETH/USD started the week trading at a high of $1,783, however it fell to a bottom of $1,415.58 tidigare idag.

The move saw ethereum fall below its support point of $1,430, hitting its lowest point since July 26 i processen.

Som sett från diagrammet, the decline came as the RSI collided with a support of its own, at the 38.70 märke.

This landing spot has helped stabilize prices, with the earlier bleeding somewhat halted for the time being.

If we were to see this floor broken, then it is likely that bears will look to target the $1,350 level as a potential exit point.

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Elijah Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. För närvarande, he acts as a commentator across various asset classes, inklusive Crypto, Aktier och valuta.

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