Bitcoin fell for the second session in a row on Thursday as the price moved towards a key support point. Today’s sell-off has sent the cryptocurrency below $29,000, and the coin is now trading at a ten-day low. Ethereum fell to a week low in today’s session.
Bitcoin
bitcoin (BTC) was back in the red on Thursday as traders continued to take profits from last week’s bull run.
BTC/USD fell to an intraday low of $28,596.91 earlier in today’s session, which comes a day after hitting a high of $29,509.35.
This is the lowest point Bitcoin has reached since April 10, when the price traded as low as around $28,100.
Looking at the chart, the move on Thursday saw BTC dip below a recent bottom at $28,600, with the RSI also dipping towards a bottom of its own.
At the time of writing, the index is now at 51.47, which is marginally above the previously mentioned support at 50.00.
BTC it has already moved away from previous lows and is currently trading at $28,837.95, at the time of writing.
Ethereal
ethereal (ETH) fell to a one-week low in today’s session as traders tried to find a foothold.
After a high of $2,005.44 on Wednesday, ETH/USD fell to a low of $1,928.58 earlier in the day.
As a result of this drop, ethereum fell to its weakest point since April 13, the day it saw ETH float marginally above $1,900.
At the time of writing, ETH it has bounced, which seems to be due to its RSI bouncing from a bottom at 52.00.
Ethereum is currently trading at $1945.58, with the index at the 54.54 level, below the next 58.00 top.
If the bulls were to take price strength to 58.00 or higher, there is a good chance that ETH it will be back above the $2,000 level.
Sign up your email here to receive weekly price analysis updates in your inbox:
Do you expect Ethereum to break above $2,000 this week? Leave your thoughts in the comments below.
image credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
