Bitcoin moved closer to its long-term support level of $18,800 to start the weekend, as prices of cryptocurrencies were once again lower. While bitcoin has now fallen for seven straight sessions, ethereum also saw similar declines, and as of writing is down 2.40% from yesterday’s high.
The world’s largest cryptocurrency by market capitalization bitcoin (BTC) was once again in the red on Saturday, as prices edged closer to a key support level.
Following a high of $19,590.12 on Friday, BTC/USD rallied to an intraday low of $19,027.08 to start the weekend.
This move sees bitcoin hover slightly above its recent support point at $18,800, which was hit earlier in the week.
BTC/USD Daily Chart
Despite three recent moves below this level, breakouts have been mainly false, however bears could be set to attempt a more sustained drop in upcoming days.
Should we see a move below this point, the $17,500 mark will likely be the price target for those shorting the token.
In order to get there, relative strength would need to move below its own floor, with the 27.5 level on the RSI indicator acting as point of support.
Ethereum (ETH) bear’s were also pressuring prices to start the weekend, as the token continued to hover slightly above the $1,000 level.
As of writing this, ETH/USD has now fallen to a low of $1,033.96 on Saturday, which is marginally below its $1,050 floor.
Should bearish pressure persist this weekend, then the next target would inevitably be below $1,000.
ETH/USD Daily Chart
In particular, bears will be looking at the $885 support point as a preferred exit point, however, the 14-day RSI would need to break below its current floor of 29.5.
Since the beginning of April, ETH has lost over two-thirds of its value, however, the declines might not have ended yet.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
暂时没有评论，赶紧抢沙发吧！