Bitcoin, Ethereum Technical Analysis: BTC, ETH Hit 2-Week Lows, Ahead of US Midterms 

Bitcoin fell beneath $20,000 connected Tuesday, arsenic markets prepared for the U.S. midterm elections. Cryptocurrencies were swept by a reddish question today, arsenic immoderate Democratic investors expect that American voters volition besides beryllium favoring specified a question successful the governmental arena. Ethereum besides moved lower, dropping beneath $1,500 for the archetypal clip successful 2 weeks.

Bitcoin

Bitcoin (BTC) prices fell for a 3rd consecutive league connected Tuesday, arsenic traders prepared for the U.S. midterm elections.

Following a precocious of $20,882.38 to commencement the week, BTC/USD slipped to an intraday debased of $19,448.53 earlier today.

This driblet successful terms saw bitcoin autumn to its lowest level since October 25, erstwhile the token was trading astir the $19,200 mark.

BTC/USD – Daily Chart

Looking astatine the chart, today’s diminution successful BTC came arsenic prices fell beneath a cardinal terms level of $20,080.

In summation to this, the 14-day comparative spot scale (RSI) has besides slipped beneath a enactment of its ain astatine 52.60, and is presently tracking astatine 44.81.

BTC has somewhat rebounded from earlier lows, with bulls truthful acold rejecting a determination nether $19,000. The token is trading astatine $19,727.23 arsenic of writing.

Ethereum

Ethereum (ETH) besides sank up of today’s vote, which galore expect to beryllium a cleanable expanse for Republican candidates.

The world’s 2nd largest cryptocurrency fell to a bottommost of $1,443.03, little than 24 hours aft trading astatine a highest of $1,604.48.

Like with BTC, today’s determination saw the token driblet for a 3rd consecutive day, hitting its lowest constituent successful 2 weeks successful the process.

ETH/USD – Daily Chart

As tin beryllium seen from the chart, ETH bears attempted to recapture a level of $1,425, nevertheless prices person since rebounded.

The RSI has nevertheless deed a floor, and arsenic of writing, the scale is tracking adjacent to its level of 50.00.

Should we spot this level broken, past we could spot traders erstwhile again effort to instrumentality the token towards the $1,425 point.

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Do you expect a Republican triumph successful the midterms to propulsion crypto prices lower? Leave your thoughts successful the comments below.

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