Bitcoin, Ethereum Technical Analysis: BTC Below $20,000, ETH Slips Under $1,000

THELOGICALINDIAN - Bitcoin fell beneath 20240 on Saturday as the selloff in cryptocurrency markets connected to alpha the weekend ETH was additionally trading beneath a key akin as prices fell beneath 1000 for the aboriginal time in over 18 months

Bitcoin

Bitcoin fell beneath $20,000 on Saturday, as bearish drive continued entering the weekend.

Despite the best accomplishment of beasts to authority the line, the contempo amount abutment of $20,200 assuredly gave way beforehand today.

As a aftereffect of this, BTC/USD fell to an intraday low of $18,905.98 beforehand in today’s session, which is the everyman akin BTC has traded back December 2020.

Overall, BTC has collapsed by about $13,000 back the alpha of the month, with the amount now bottomward 30% in the aftermost seven days.

In accession to this, the Relative Strength Index (RSI) is trading at 20.9, which is its everyman point in over bristles years.

Bulls will acceptable see this as an opportunity, about with the accepted animation in the bazaar we may see added turbulence in accessible weeks.

Ethereum

Similar to bitcoin, ETH fell beneath a key point on Saturday, with prices bottomward beneath $1,000 for the aboriginal time back January 2020.

ETH/USD slipped to an intraday low of $986.85 to alpha the weekend, which is about hardly lower than yesterday’s aiguille at $1,105.23

This bead saw ETH blemish from its contempo amount attic of $1,050, which we categorical bygone was one of the aftermost curve of aegis preventing a bead into the $900 region.

Percentage wise, the bead in ETH over the accomplished seven canicule has been greater than in BTC, with prices actuality falling by about 40% back aftermost Saturday.

As of writing, ethereum is trading over 50% lower than at the alpha of June, afterward a band of about two weeks account of back-to-back declines.

Currently, prices accept confused aback aloft $1,000, about there will acceptable be added moves beneath this point as the weekend progresses.

Where will the abutting abutment point be in ETH? Leave your thoughts in the comments below.

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