ETH Back Below $2,000, BTC Down 6% to Start Weekend – Market Update Bitcoin News

Cryptocurrency prices are back in the red today after a strong rally on Friday, with bitcoin The weekend started with a dip below $30,000. Ethereum Also lower, as its own price dipped below the $2,000 level in Saturday’s session.

bitcoin

The price of Bitcoin fell below $30,000 on Saturday as cryptocurrency bears moved into action over the weekend.

After rising nearly 10% in Friday’s trading session, bitcoin/USD fell to an intraday low of $28,860.79 earlier today.

Saturday’s drop follows yesterday’s price peak of $30,924.80, as LUNA appears to be finally in a crypto-agnostic situation.

Bitcoin, Ethereum technical analysis: ETH back below $2,000, BTC down 6% over the weekend
bitcoin/USD – daily chart

However, with LUNA surging nearly 2,000% in today’s trade, volatility and general uncertainty in the market could lead to bitcoinof selling.

Looking at the chart, the 14-day RSI is now lower, falling to a bottom of 25, a bottom that hasn’t been broken since late January.

If this changes, then we could see Bitcoin trading close to $25,000 in the upcoming session.

Ethereum

The world’s second-largest cryptocurrency also started the weekend lower as Ethereum It fell below $2,000 on Saturday.

Ethereum/USD fell to a bottom of $1,964.65 on Saturday, about 7% below yesterday’s peak of $2,139.71.

Thanks to today’s action, the price is now hovering near the $1,950 support level, which was the starting point of Friday’s rally.

Bitcoin, Ethereum technical analysis: ETH back below $2,000, BTC down 6% over the weekend
Ethereum/USD – daily chart

as bitcointhe 14-day relative strength index on the ethereum chart is also around 25, its lowest point in more than four months.

we’ve seen the price Ethereum It fell to a low of $1,695 this week, and if the RSI continues to weaken, we may revisit those lows soon.

overall, Ethereum Down more than 26% in the past 7 days, of which bitcoin Trading prices fell nearly 20% over the same period.

Could we see these support levels broken this weekend? Leave your thoughts in the comments below.

Elijah Danbell

Eliman brings an eclectic perspective to market analysis, having served as a brokerage director, retail trading educator and market commentator for cryptocurrencies, stocks and foreign exchange.




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