THELOGICALINDIAN - Following a airy weekend of trading cryptocurrency prices circumscribed to alpha the anniversary with BTC abutting to its longterm attic Overall bitcoin was trading hardly beneath 30000 with ETH aerial hardly aloft 2024
Bitcoin
BTC started the anniversary trading beneath $30,000 afterward a airy weekend of trading, which saw prices mainly consolidate.
Following a acceleration to a aiguille of $31,308.19 during Sunday’s session, BTC/USD fell to an intraday low of $29,412.58 on Monday.
Today’s low has apparent prices access the abiding abutment akin of $28,800, afterward a backlash from this point on Saturday.
Overall, amount backbone continues to hover in oversold territory, with the 14-day about backbone basis (RSI) tracking at 32.44.
This is beneath a attrition akin of 36.40, which was captivated on Sunday, arch to today’s selloff, as bears re-entered the market.
Should this drive continue, we will acceptable see the amount attic of $28,800 hit, with a adventitious of a abeyant blemish appear $25,000.
Ethereum
The world’s additional better cryptocurrency additionally started the anniversary lower, however, it was able to balance aloft the $2,000 akin for best of the session.
ETH/USD alone to a basal of $2,000.09 on Monday, which is about 3.27% lower than yesterday’s aiguille of $2,147.19
Similar to BTC, today’s bead sees ETH move afterpiece to its amount floor, which is abreast the $1,950 level.
As of writing, prices are trading hardly college at $2,024.92 afterward antecedent lows. However, the 10-day affective boilerplate is still pointing to added downwards momentum.
This trend was abstract afterwards the 35.35 attrition akin on the 14-day RSI bootless to breach out during yesterday’s session.
As discussed beforehand with bitcoin, we may accordingly see added lows in the advancing days, but how low prices will bead will be the key catechism to ask.
Do you apprehend ETH to break aloft $2,000 this week? Leave your thoughts in the comments below.
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