Ethereum went into the red on November 16th. rice field. Markets were nervous after a missile accidentally detonated in Poland. Concerns over a possible escalation of war between Russia and Ukraine have grown as the missile hit NATO-backed Poland. Both Poland and NATO have downplayed the attacks and so far have not blamed Russia.Bitcoin also fell, ending two days of gains.
Bitcoin
Bitcoin (BTC) turned deficit again on Wednesday. This is as markets reacted cautiously to today’s news of war missiles landing in Poland.
After two consecutive days of gains,BTC/USD fell on a hump day, reaching an intraday low of $16,617.91 in the process.
This came less than a day after the price of the world’s largest cryptocurrency rose to his high of $17,051.96.
It looks like. The 14-day Relative Strength Index (RSI) failed to break above the 39.00 ceiling.
At the time of writing, the index is currently tracking 36.30 and appears to be headed towards the visible lower end of 33.30.
If the bear manages to send the price up to this point,BTC/USD could fall below his $16,000.
Ethereum
Ethereum (ETH) also made headlines today as its token approached $1,200. reacted. level.
ETH/USD he traded down as much as 4%, bottoming out at $1,218.84 in today’s session the day after trading at a high of $1,283.20.
This move pushed the token just above the recent support level of $1,220. This is usually the last line of defense before the price dips below $1,200.
Like we saw with Bitcoin, Ethereum too he peaked in 14 days RSI reached, failing to cross 43.00 hurdle.
The index is currently at a reading of 39.85 andETH will extend today’s decline if it breaks below the upcoming lower bound of 38.00. The
10-day moving average (red) still looks like it has more downward momentum. This could also be a signal of upcoming sentiment.
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