Bitcoin, Ethereum Technical Analysis: BTC Falls Below $22,000 to Start the Week

Bitcoin started the week successful the red, arsenic Monday saw prices autumn for a 2nd consecutive session. Following a caller tally towards $22,000, the world’s largest crypto dropped beneath $21,000 earlier today, with ETH slipping beneath $1,200.

Bitcoin

Bitcoin dropped beneath $21,000 connected Monday, arsenic prices continued to slip, pursuing a caller brushwood with a cardinal absorption point.

Since hitting its absorption level of $22,070 connected Friday, BTC has fallen for 3 consecutive sessions, with today’s diminution hitting a debased of $20,395.39.

This determination saw the token autumn from an interim enactment constituent astatine $20,500, which usually is 1 of the past remaining defenses preventing terms from falling beneath $20,000.

Should bearish momentum continue, not lone could we spot the $20,000 people broken, but bears volition apt people a level of $18,845.

Price spot seems to beryllium heading successful that direction, with the 14-day RSI accelerated declining toward its ain level astatine 37.90.

One happening to note, however, is that the 10-day moving mean has present crossed with its 25-day counterpart, truthful should we spot an hold of this cross, past bullish sentiment whitethorn return.

Ethereum

Bullish sentiment was obscurity to beryllium seen for ETH, which saw its ain gains dice down, soon aft hitting a precocious of $1,187.87 connected Sunday.

The world’s second-largest cryptocurrency fell to a level of $1,139.91 connected Monday, arsenic terms moved to a little debased for the 4th consecutive day.

As of writing, prices person somewhat risen, with ETH/USD present trading astatine $1,147.49, with comparative spot tracking astatine floor.

Looking astatine the chart, the 14-day RSI indicator is tracking adjacent its semipermanent enactment constituent astatine 41.10, pursuing a caller failed breakout of a ceiling astatine 49.40.

Momentum seems to person shifted, with bears present controlling sentiment, contempt a akin crossover of moving averages to that of bitcoin’s.

Ahead of this week’s FOMC meeting, it volition beryllium absorbing to spot if prices consolidate, oregon rally, up of an expected 75 ground constituent involvement complaint hike.

Do you expect a Fed hike to interaction crypto prices? Leave your thoughts successful the comments below.