Ethereum is approaching the $1,200 level breakout again. , as the bearish sentiment returned to the start of the weekend. Following Friday’s price rebound, the cryptocurrency market is back in the red, with him trading down 0.68% at the time of writing. Bitcoin also fell in today’s session.
Bitcoin
Bitcoin (BTC) fell again towards the start of the weekend as the token returned to recent lows .
BTC/USD fell to an intraday low of $16,564.61 during today’s session.
This move broughtBTC closer to the week’s support point of $16,000. This has been going on since his FTX demise.
chart, today’s price drop is 14 days relative Strength Index (RSI). The 38.00 wall in the
indicator appeared to prevent the bulls from regaining the $17,000 mark, opening the door for a bearish re-entry.
BTC could move closer to his $16,000 if Saturday’s bearish momentum continues to build throughout the weekend.
Ethereum
BTC In addition to, Ethereum (ETH) also dropped . On Saturday, the price will try to break out of the $1,200 level.
After Friday’s high of $1,222.20, the world’s second largest cryptocurrency fell to a low of $1,200.48 today.
The move came asETH/USD broke below the recent resistance cap of $1,220 and the bulls are fighting to deny further decline.
At time of writing,ETH is trading at $1,209.44 I’m here. Traders have so far refused to break below $1,200.
This he is due to two things. First, the 10-day (red) moving average is trending upwards, returning bullish sentiment to the token.
Additionally, the 14-day Relative Strength Index (RSI) continues to trade above its key floor of 37.75.
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