ETH צוריק אונטער $ 2,000 ווי באַלענסיאַגאַ גיינז פאַרלירן פּאַרע - מאַרק דערהייַנטיקונגען ביטקאָין נייַעס

Following strong gains to start the week, בטק once again fell under $30,000, as crypto prices moved lower on Tuesday. The downturn follows up from yesterday’s rally, which came as Balenciaga announced it would be accepting crypto payments. עטה also dropped, falling under $2,000 today.

ביטקאָין

Bitcoin fell under $30,000 on Tuesday, as bears returned to action following a green start to the week.

Following a high of $30,547.50 during Monday’s session, בטק/ וסד געפאלן צו אַ ינטראַדיי נידעריק פון $ 28,975.56 פריער הייַנט.

Today’s drop saw בטק fall by over 5% in the day, as bullish sentiment following the Balenciaga crypto announcement faded.

Bitcoin, Ethereum Technical Analysis: ETH Back Under $2,000 as Balenciaga Gains Lose Steam — בטק/ וסד - טעגלעך טשאַרט

Since then, bears have now pushed prices closer to support at $28,800, which is an area where בטק has resided over the past few weeks.

Looking at the chart, the 14-day Relative Strength Index is also under resistance at 38, which seems to be another contributing factor to today’s decline.

Like we have discussed in recent days, unless there are significant increases or decreases in relative strength, then markets will likely continue to consolidate.

עטהערעום

Yesterday’s bullish sentiment also wore off for עטה, which once again fell below the $2,000 level following promising gains.

The world’s second-largest cryptocurrency dropped to an intraday low of $1,964.39 on Tuesday, which is just over 4% lower than yesterday’s top.

עטה/USD is now just over $10 away from support of $1,950, following today’s sell-off, which pushes prices back toward the long-term floor.

A promising sign for עטה is that the 10-day moving average is heading sideways, which normally is a signal of future upwards crosses.

So although we are currently consolidating, bulls will likely be preparing for a breakout, as soon as upward momentum picks up.

Could we see a breakout before the end of this month? Leave your thoughts in the comments below.

אלימאן דאמבעל

עלימאַן ברענגט אַ יקלעקטיק פונט פון מיינונג צו מאַרק אַנאַליסיס, ווייל געארבעט ווי אַ בראָוקערידזש דירעקטאָר, רעטאַיל טריידינג עדזשאַקייטער און מאַרק קאָמענטאַטאָר אין קריפּטאָ, סטאַקס און פקס.