Bitcoin, Ethereum Technical Analysis: Profit Takers Swoop in to Send BTC, ETH Lower

2 months ago
 Profit Takers Swoop successful  to Send BTC, ETH Lower

Bitcoin consolidated to commencement the weekend, arsenic traders moved to unafraid gains pursuing caller highs successful the market. The planetary marketplace headdress was mostly unchanged connected Saturday, trading 0.06% little astatine the clip of writing. Ethereum besides declined, aft a one-month precocious connected Friday.


Bitcoin retreated from a ten-day precocious connected Saturday, arsenic bulls opted to unafraid profits from caller gains.

BTC/USD slipped to a debased of $26,721.76 earlier successful the day, which comes little than 24-hours aft peaking astatine $27,075.94.

The determination comes arsenic bulls were incapable to prolong a caller breakout supra a ceiling astatine the $27,100 level.

Zooming into the chart, a failed interruption of the 58.00 absorption level connected the comparative spot scale (RSI), besides contributed to the downturn.

At the clip of penning this, terms spot is present tracking astatine 56.24, which is marginally supra a ceiling of 55.00.

Bulls volition apt marque different tally towards $27,000 this weekend, contempt today’s terms consolidation.


Ethereum (ETH) has been connected a bull tally this week, climbing to a one-month precocious during Friday’s session.

These gains person since been erased, with ETH/USD falling to a debased of $1,657.68 earlier successful the day, aft hitting a precocious of $1,681.79 the time before.

The determination has pushed the 10-day (red) moving mean connected the cusp with a crossover with its 25-day (blue) counterpart.

Although momentum is firmly bullish, a ceiling of 61.00 connected the RSI could enactment arsenic a hurdle for traders looking to instrumentality ETH towards $1,700.

Currently, the scale is tracking astatine 60.01, with ethereum hovering somewhat beneath the $1,680 terms region.

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Is today’s consolidation solely owed to profit-taking? Leave your thoughts successful the comments below.

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