Bitcoin, Ethereum Technical Analysis: BTC Hits 1-Month Low, Following Easter Selloff

Following a play of bearish pressure, BTC’s terms fell to its lowest level successful implicit a month. ETH besides neared a one-month low, which came arsenic prices erstwhile again slipped beneath $3,000. Overall, the cryptocurrency marketplace headdress is down astir 4% arsenic of writing.

Bitcoin

Bitcoin fell to a one-month debased to commencement the week, arsenic cryptocurrency prices continued to decline, pursuing caller bearish unit successful the market.

Following a highest of $40,570.73 precocious connected Sunday, BTC/USD dropped to a bottommost of $38,696.19 during Monday’s session.

Today’s driblet saw prices autumn to their lowest constituent since March 15, and this comes arsenic bears were capable to interruption the caller $40,000 enactment level.

BTC/USD – Daily Chart

Since hitting the earlier low, BTC has since rallied, and is presently sitting astatine astir $39,350, arsenic bulls attempted to recapture earlier losses.

Looking astatine the chart, today’s driblet pushed the 14-day RSI to its ain level of 38, which is wrong oversold territory.

Bulls volition anticipation that this enactment successful terms spot holds, if not we whitethorn spot further declines, with immoderate bears looking to instrumentality BTC person to $35,000.

Ethereum

In summation to BTC, the world’s second-largest crypto was besides trading lower, with caller declines during Monday’s session.

ETH/USD fell for a 2nd consecutive day, dropping to an intraday debased of $2,893.91 to commencement this week’s action.

Monday’s driblet saw ETH deed its lowest constituent successful conscionable implicit 3 weeks, taking terms marginally beneath enactment of $2,950 successful the process.

ETH/USD – Daily Chart

Similar to BTC, earlier losses person somewhat eased, arsenic bears person apt taken immoderate profits, whilst bulls besides combat to support this floor.

As of writing, prices are present trading person to support, contempt the 14-day RSI falling beneath its ain floor.

Price spot is presently tracking astatine 41, which is its lowest since aboriginal March, which could beryllium a affirmative for bulls looking to bargain this existent weakness.

Will ETH autumn to further lows arsenic the week progresses, oregon rally to flooded the downward pressure? Leave your thoughts successful the comments below.

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