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Bitcoin, Ethereum Technical Analysis: ETH Falls Below $3,000 to Start the Weekend

Ethereum dropped below $3,000 to start the weekend, as cryptocurrency prices fell for a second consecutive day. Bitcoin was also lower, giving up some of this week’s gains in the process. Bitcoin Following a surge to a high above $45,000 to start the week, bitcoin prices fell for a third straight session, as bullish pressure […]

Ethereum dropped below $3,000 to start the weekend, as cryptocurrency prices fell for a second consecutive day. Bitcoin was also lower, giving up some of this week’s gains in the process.

Bitcoin

Following a surge to a high above $45,000 to start the week, bitcoin prices fell for a third straight session, as bullish pressure seems to have calmed.

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BTC/USD fell to an intraday low of $41,892.20 on Saturday, following a peak of $43,810.83 during yesterday’s session.

After attempting to breach the $44,750 resistance on Thursday, bitcoin’s price strength has weakened, moving closer to oversold territory.

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The 14-day Relative Strength Index (RSI) is currently tracking at 54, following a high of 65 only 2-days ago.

This level of 54 appears to be a short-term floor, leading many to wait and see if it holds, which could then entice bulls to maintain open positions.

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Despite the current bearish sentiment surrounding markets, price momentum, especially short-term, still trends higher, with BTC/USD still marginally up in the last seven days.

Bears will certainly continue to test this trend.

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Ethereum

The decline of ethereum continued on Saturday, as the world’s second-largest cryptocurrency fell below its key support level.

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ETH/USD fell to an intraday low of $2,888.66 today, which is the lowest price ETH has seen since February 4.

This eight-day low comes as price strength fell into oversold territory, breaking below the neutral zone of 50 on the 14-day Relative Strength Index.

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Recent momentum has meant that ETH is trading over 3% lower in the last seven days, wiping out sizable gains made during the week.

Could ETH be moving towards support of $2,600? Leave your thoughts in the comments below.

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Markets and Prices – Bitcoin News

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