Ethereum moved below $1,600 on Jan. 25, with bears selling previously overbought cryptocurrencies. After days of uncertainty, sentiment shifted in crypto markets, with a red wave washing away recent bulls. Bitcoin also dropped below $23,000 as a result of today’s sell-off.
Bitcoin
Биткоин (БТК) fell below the $23,000 level on Wednesday, as a red wave swept through cryptocurrency markets.
По највисокото ниво од 23,048.18 долари во вторникот, БТК/USD hit an intraday low of $22,406.08 earlier in today’s session.
As a result of today’s drop in price, bitcoin fell to its weakest point since Sunday, breaking out of a floor at $22,500 in the process.
Looking at the chart, the drop came as the 14-day relative strength index (RSI) fell to its lowest level since last Thursday.
At the time of writing, the index is tracking at a level of 79.93, which comes less than 24 hours after hovering at 85.09.
Since its earlier breakout, the world’s largest cryptocurrency has somewhat rebounded, and is currently trading at $22,614.62.
Ethereum
Sentiment in ethereum (ЕТХ) also shifted on Wednesday, with prices falling below a recent support point at $1,600.
ЕТХ/USD slipped to a bottom of $1,530.80 on Wednesday, following a peak of $1,630.47 during Tuesday’s session.
Since breaking out of its $1,600 floor, ethereum appears to be heading towards a lower level of support at $1,500.
Like with bitcoin, today’s red wave comes as bears have finally opted to reenter the market, as a result of prices being overbought.
Ethereum’s 14-day RSI is currently sitting at 61.07, which is its lowest point since January 8, and this comes a day after breaking out of a floor at 74.00.
There appears to be an upcoming support area at 58.00, and if this remains firm, ЕТХ could manage to stay above $1,500.
Регистрирајте ја вашата е-пошта овде за да добивате неделни ажурирања за анализа на цените испратени до вашето сандаче:
Could we see cryptocurrencies continue to fall in the coming days? Leave your thoughts in the comments below.
Кредити за слика: Shutterstock, Pixabay, Wiki Commons
Општи услови: Овој напис е само за информативни цели. Тоа не е директна понуда или барање за понуда за купување или продажба, или препорака или одобрување на какви било производи, услуги или компании. Bitcoin.com не дава совети за инвестиции, даночни, правни или сметководствени работи. Ниту компанијата, ниту авторот не се одговорни, директно или индиректно, за каква било штета или загуба предизвикана или наводна, предизвикана од или во врска со употреба или потпирање на содржина, добра или услуги споменати во овој напис.
Source: https://news.bitcoin.com/bitcoin-ethereum-technical-analysis-eth-falls-below-1600-as-relative-strength-sinks/