Bitcoin continues to drop on Thursday, coin It remains near its lowest level since the end of November. Crypto market momentum has changed in recent days and sentiment is currently bearish. Ethereum also dropped and the token fell towards his $1,200.
Bitcoin (BTC) hit near one-week lows on Thursday as the cryptocurrency continued to trade in the red. I stayed.
BTC/USD fell to a low of $16,750.56 earlier in the day within 24 hours after trading at a high of $17,061.48.
The move brought the world’s largest cryptocurrency closer to its recent support point of $16,700.
14 after failing to breach the 50.00 level peak earlier in the week The relative strength index (RSI) for the day is currently tracking 45.50.
If price strength continues to plummet, the next visible support point appears to be at the 43.00 mark.
Market bears are hoping that this floor not only hit, but could trigger a move below $16,000.
Like Bitcoin, Ethereum (ETH) also plummeted in today’s session, with the price falling for his second day in a row.
Following Wednesday’s high of $1,252.30,ETH/USD plummeted to a low of $1,224.45 earlier in the day.
Today’s price drop has seen Ethereum break below the recent support point of $1,230, resulting in the price hitting his 9-day low.
Looking at the chart, the 10-day (red) moving average is still High, which some see as a signal that a bullish reversal may still be in the card. , which is the lowest score since November 29. The
index now appears to be heading towards the 45.00 level support point.
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