Skip to main content

Bitcoin, Ethereum Technical Analysis: ETH Hits 2-Week Low, Following Move Below $1,900

Ethereum slipped below $1,900 during Thursday’s session, as prices dropped to a two-week low. Bitcoin was also trading lower over the course of the day, as it fell under $29,000. Overall, crypto was down over 3% as of writing.

Bitcoin

BTC fell below $29,000 earlier in today’s session, as bearish pressure continued to intensify heading towards the end of the week.

Following a high of $29,972.64 only yesterday, the world’s largest cryptocurrency dropped to an intraday low of $28,954.97 earlier in the session.

The move saw BTC/USD head for its support point at $28,800. However, it stopped short of this target, as bulls pushed prices slightly higher.

As of writing, BTC/USD is currently trading at $29,018.85, which is roughly 1.26% lower than yesterday’s peak.

Relative strength continues to track below its own resistance point, which is under 40, and currently resides at 37, which is marginally above support at 36.6.

We will not likely see any significant price movements unless one of these levels is broken.

Ethereum

The headline story in crypto markets on Thursday was undoubtedly ETH falling to a two-week low during today’s session.

Less than 24 hours after trading at a high of $2,014.37, ETH/USD sank to a bottom of $1,810.35 earlier in the day.

This move took ethereum to its lowest point since May 12, and comes as prices fell from their recent support point.

Prices have mostly held this floor at $1,950 for the last fifteen days, however as bearish pressure intensified, we saw this level finally cave in.

What has not caved in is the ceiling on the 14-day RSI at 37, which held steady despite attempts from bulls to force a breakout.

This resulted in today’s drop, with the RSI now tracking at 31, which is close to a one-week low.

Could we see ETH drop even further in the upcoming days? Leave your thoughts in the comments below.



from Bitcoin News https://ift.tt/Nf7ZI2u
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more