Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Ahead of US Consumer Sentiment Data

Bitcoin consolidated connected Friday, arsenic traders prepared for the merchandise of the upcoming user sentiment figures from the United States. Following a determination to a five-month precocious connected Thursday, prices were erstwhile again beneath $23,000. Ethereum besides slipped, moving beneath $1,600 successful the process.

Bitcoin

Bitcoin (BTC) fell backmost beneath $23,000 connected Friday, arsenic markets consolidated up of U.S. user sentiment data.

BTC/USD slipped to a bottommost of $22,654.59 earlier successful today’s session, little than 24 hours aft hitting a precocious of $23,215.00.

The driblet came up of this afternoon’s U.S. user sentiment report, which is expected to travel successful astatine a speechmaking of 64.6.

BTC/USD – Daily Chart

As tin beryllium seen from the chart, the comparative spot scale (RSI) besides edged person to a level of 78.00, starring to a flimsy displacement successful momentum.

The 10-day (red) moving mean continues to determination successful an upward direction, nevertheless should the scale determination beneath 78.00, this inclination volition apt reverse.

Currently, the scale is tracking astatine 79.64, with BTC/USD trading astatine $22,965.60.

Ethereum

There was a flimsy displacement successful sentiment successful ethereum (ETH), with prices moving beneath $1,600 during today’s session.

Following a precocious of $1,619.45 connected Thursday, ETH/USD dropped to an intraday debased of $1,565.25 earlier successful the day.

Today’s determination came arsenic the world’s 2nd largest cryptocurrency was incapable to interruption retired of a absorption level of $1,640 connected Wednesday.

ETH/USD – Daily Chart

Since this time, prices person moved to little lows successful back-to-back sessions, with ethereum’s RSI besides dropping beneath a cardinal constituent of support.

The scale is tracking astatine 61.94, which is marginally nether its caller level astatine 63.00, and its weakest level since January 8.

Should this bearish inclination proceed into the weekend, determination is simply a beardown anticipation that ETH volition deed a level astatine $1,500.

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Will today’s information nonstop cryptocurrencies higher? Leave your thoughts successful the comments below.

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