Ethereum Falls Below $1,100 on Nov 22 I was. Tomorrow’s long-awaited release of the US Federal Open Market Committee (FOMC) minutes. Many are looking to the report for tips from the Federal Reserve on when to reverse course from current policy. Bitcoin also fell, reaching a critical support point in the process.
Bitcoin
Bitcoin (BTC) drops as crypto markets nervous ahead of release of his FOMC minutes on Wednesday continued to fall on Tuesday.
BTC/USD fell to a low of $15,599.05 during today’s session. This is less than 24 hours after hitting the $16,246.61 high.
The move came as he pushed the world’s largest cryptocurrency to its lowest point in two years and the price fell below a key support point.
chart,BTC is just below the floor. It fell below $15,600 on Tuesday before rebounding higher as the session matured.
At the time of writing, Bitcoin is trading at $15,784.68 and tracks the 14-day Relative Strength Index (RSI) at 31.61.
This is just above his 30.50 support. This means that the BTC drop is likely to continue in the next few days.
Ethereum
Ethereum (ETH) fell three times in a row on Tuesday, tokens $ fell below 1,100. in the process.
Following a high of $1,140.70,ETH/USD fell earlier today, moving to an intraday low of $1,081.14.
As a result of today’s price drop,ETH fell towards the $1,080 floor, hitting its lowest level since November 4th.
After reaching this support point, the price has rebounded somewhat, The token is trading at $1,095.29 at the time of writing. Unlike
BTC,ETH appears to have found a lower bound on his RSI indicator, with the index approaching the 33.00 support.
If this floor holds firm, the bulls will likely prepare to return to the market, leading to a change in current sentiment.
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