Bitcoin, Ethereum Technical Analysis: ETH Slips Below  $1,100 Ahead of FOMC Minutes Report

Ethereum fell beneath $1,100 connected Nov. 22, up of tomorrow’s overmuch anticipated United States Federal Open Market Committee (FOMC) minutes release. Many are looking toward this study for hints from the U.S. Federal Reserve, successful presumption of erstwhile it could pivot from existent policy. Bitcoin was besides lower, hitting a cardinal enactment constituent successful the process.

Bitcoin

Bitcoin (BTC) continued to commercialized little connected Tuesday, arsenic crypto markets were nervy up of Wednesday’s FOMC minutes release.

BTC/USD fell to a debased of $15,599.05 successful today’s session, which comes little than 24 hours aft hitting a precocious of $16,246.61.

The determination pushed the world’s largest cryptocurrency to its lowest constituent successful 2 years, and came arsenic prices fell beneath a cardinal enactment point.

BTC/USD – Daily Chart

Looking astatine the chart, BTC moved marginally beneath a level of $15,600 connected Tuesday, earlier rebounding higher arsenic the league matured.

As of writing, bitcoin is trading astatine $15,784.68, with the 14-day comparative spot scale (RSI) tracking astatine 31.61.

This is somewhat supra a enactment of 30.50, which means that determination could inactive beryllium upcoming drops successful BTC successful the coming days.

Ethereum

Ethereum (ETH) fell for a 3rd consecutive league connected Tuesday, with the token moving beneath $1,100 successful the process.

Following a precocious of $1,140.70, ETH/USD declined earlier today, moving to an intraday debased of $1,081.14.

As a effect of today’s driblet successful price, ETH sank towards a level of $1,080, hitting its lowest constituent since November 4.

ETH/USD – Daily Chart

Since hitting this constituent of enactment prices person somewhat rebounded, and arsenic of penning the token is trading astatine $1,095.29.

Unlike with BTC, it appears arsenic ETH has recovered a level connected the RSI indicator, with the scale hovering adjacent to a enactment astatine 33.00.

Should this level clasp firm, bulls volition apt hole to instrumentality to the market, starring to a displacement successful existent sentiment.

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Do you expect ethereum to person immoderate further little lows this week? Leave your thoughts successful the comments below.

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