Following a strong rebound on Friday, crypto prices moved back into the red today, with БТК falling below $30,000 to start the weekend. ЕТХ also moved lower, as its own price slipped below the $2,000 level during Saturday’s session.
Bitcoin
On Saturday, bitcoin’s price fell below $30,000, as crypto bears returned to action to start the weekend.
Following a rise of nearly 10% during Friday’s session, БТК/USD падна на најниско ниво во текот на денот од 28,860.79 $ претходно денес.
Saturday’s decline comes after prices hit a peak of $30,924.80 yesterday, as LUNA appeared to have finally fallen into crypto irrelevancy.
However, as LUNA spiked by almost 2,000% in today’s session, the volatility and general uncertainty in markets likely contributed to БТК’s selloff.
Looking at the chart, the 14-day RSI is now trading lower, as it fell to a bottom of 25, which is a floor that has not been broken since late January.
Should this change, then we will likely be looking at bitcoin trading closer to $25,000 in upcoming sessions.
Ethereum
The world’s second-largest cryptocurrency also moved lower to start the weekend, as ЕТХ fell below $2,000 on Saturday.
ЕТХ/USD dropped to a bottom of $1,964.65 on Saturday, which is around 7% lower than yesterday’s peak of $2,139.71.
As a result of today’s move, prices are now hovering close to a support level of $1,950, which was the starting point of Friday’s rally.
Слични на БТК, the 14-day Relative Strength Index on the ethereum chart is also tracking around 25, which is its lowest point in over four months.
We have already seen prices of ЕТХ fall to as low as $1,695 this week, and should the RSI continue to weaken, we might soon revisit these lows.
Генерално, ЕТХ is down over 26% in the last seven days, with БТК trading almost 20% lower in that same period.
Could we see these support levels broken this weekend? Leave your thoughts in the comments below.
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Source: https://news.bitcoin.com/bitcoin-ethereum-technical-analysis-eth-back-below-2000-as-btc-down-6-to-start-weekend/