After a slight surge in price, bitcoin traded lower on Friday as bearish momentum returned to the crypto market. BTCis again approaching the $20,000 level in today’s session, andETHfell below $1,100 earlier in the day.
Bitcoin
BTCmoved lower in Friday’s session as bearish momentum once again reigned over the crypto market.
After a slight rise in prices on Thursday,BTC/USD fell to an intraday low of $20,265.23 heading into the weekend.
As a result of Friday’s move,.BTCmoved toward what appeared to be its new floor at $20,200 on a third-day bounce.
Today’s decline also coincided with the 14-day RSI’s failure to break through its ceiling near 26.35.
The indicator is currently at 25.30, but the bears will likely try to take it to the 22 support point.
In this case, bitcoin could trade below $20,000.
Ethereum
In addition to the drop inBTC, ETH also fell below key price levels, falling modestly in today’s trading.
ETH/$/USD fell to an intraday low of $1,058.78 in Friday’s session, less than a day after reaching a peak of $1,138.27.
This decline, seeETHis currently trading just above its recent price low of $1,050, which appears to be one of the last lines of defense to prevent a move below $1,000.
At the time of writing,ETHhas moved off its previous low and is currently trading at $1,095.12, 1.48% lower than yesterday’s high It is trading at $1,095.12, 1.48% lower than yesterday’s high.
The chart shows the Relative Strength Index hovering at 22, higher than the bottom at 20.35.
IfETHis to hold above $1000 this coming weekend, price strength must be above this point.
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