Fun

Bitcoin, Ethereum Technical Analysis: BTC Below $16,000 Amid Increased Market Volatility

News Feed - 2022-11-21 10:11:37

Bitcoin, Ethereum Technical Analysis: BTC Below $16,000 Amid Increased Market Volatility


Bitcoin slipped below $16,000 on Nov. 21, as markets continued to react to the news that the FTX contagion had impacted yet another firm. Hong Kong-based crypto ATM firm Genesis Block halted its operations, as it looks to stabilize its liquidity pool. Ethereum was also lower, as prices remained below $1,200. Bitcoin


Bitcoin (BTC) slipped below $16,000 to start the week, as volatility in cryptocurrency markets continued to rise.


Following a high of $16,590.42 on Sunday, BTC/USD dropped to an intraday low of $15,943.14 earlier today.


The move pushed the world’s largest cryptocurrency to its lowest point since November 14, when prices fell below a key support point of $16,200. BTC/USD – Daily Chart


Looking at the chart, BTC continued to trade below this point of support in today’s session, with the 14-day relative strength index (RSI) also hovering near a floor of its own.


The index is currently tracking at the 32.79 level, which is marginally below a key support point of 33.00.


Should this decline continue, we will likely see bitcoin bears attempt to take the token towards a lower floor of $15,600. Ethereum


Like BTC, ethereum (ETH) extended recent declines, stumbling lower for a second straight session on Monday.


ETH/USD fell to a low of $1,110.57 to start the week, which comes less than 24 hours after hitting a high of $1,183.43.


Today’s drop, which saw the token fall by as much as 4%, took ETH to its lowest point since November 10. ETH/USD – Daily Chart


Bears seem to be targeting a floor of $1,100, however traders have so far rejected this proposition, with the token bouncing, and it is now trading at $1,120.26.


As can be seen on the chart, Monday’s drop in price coincided with the RSI breaking out of its own floor at 37.75, and it is now at 34.61.


The momentum of the 10-day (red) moving average has once again shifted, with the trendline suggesting that further declines could be on the way.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Bitcoin, BTC, ETH, Ethereum


Will we see ethereum fall below $1,100 in the coming days? Leave your thoughts in the comments below. Eliman Dambell


Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Biggest Movers: NEAR Slips to 16-Month Bottom, ALGO Over 11% Lower on Monday MARKET UPDATES | 7 hours ago Thanks to the FTX Collapse, Bitcoin"s Price in November 2022 Looks to Join the 4 Previous Negative Novembers of the Past 11 Years MARKET UPDATES | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleFTX Debacle Has Wounding Users Outflow to Shorter Finance Amid TOKEN 2049 London Next articleTuition Coin Announces Teach to Earn on Cardano Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. 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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year


The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto

News Feed

Crypto startup launches tokenized US Treasury bonds on Bitcoin layer-2s
Derek Andersen2 hours agoCrypto startup launches tokenized US Treasury bonds on Bitcoin layer-2sThe new tokenized assets offer the stability of the Bitcoin network with admirable yield.2833 Total views1 Total sharesListe
Risk of ‘Significant Drawdowns’ Pushes Cypherpunk Holdings to Sell Entire Stash of Bitcoin and Ethereum
Risk of "Significant Drawdowns" Pushes Cypherpunk Holdings to Sell Entire Stash of Bitcoin and Ethereum On Tuesday, the Canada-based investment firm Cypherpunk Holdings Inc. announ
Are celebrity tokens good or bad for Web3? Execs weigh in
Ezra Reguerra48 minutes agoAre celebrity tokens good or bad for Web3? Execs weigh inCointelegraph approached professionals across Web3 to get their thoughts on the emergence of celebrity-backed meme tokens in crypto.199
Solana Price Continues Downward Slide — Is A Rebound Possible At $180? 
Este artículo también está disponible en español. Solana (SOL) was one of the large-cap assets affected by the recent market downturn triggered by the US Federal Reserve
PureVPN Can Help Crypto Users Stay Secure and Access International Exchanges
PureVPN Can Help Crypto Users Stay Secure and Access International Exchanges sponsored Crypto users access their wallets and exchanges day in and day out and making sure it remains
Bitcoin Mining Rigs Struggle for Profits, Despite BTC’s Hashrate Reaching an All-Time High
Bitcoin Mining Rigs Struggle for Profits, Despite BTC"s Hashrate Reaching an All-Time High Bitcoin’s hashrate climbed to an all-time high (ATH) this week t
BTC price clings to $62K as Bitcoin bulls suffer post-halving ‘boredom’
William Suberg28 minutes agoBTC price clings to $62K as Bitcoin bulls suffer post-halving ‘boredom’Bitcoin may be preparing for trend continuation, but on short timeframes, BTC price behavior is inspiring no one.274
Andrew Tate and Iggy Azalea parodied in Beeple’s artwork
Josh O"Sullivan13 hours agoAndrew Tate and Iggy Azalea parodied in Beeple’s artworkBeeple unveils “Mother and Daddy (2024),” blending digital finance and celebrity culture, featuring Iggy Azalea and Andrew Tate.204
7 Days Left Until the Great Bitcoin Halving: Hashrate Jumps Over 140 Exahash, Miner’s Hoard
7 Days Left Until the Great Bitcoin Halving: Hashrate Jumps Over 140 Exahash, Miner"s HoardJust recently the price of bitcoin jumped over the $9,000 per coin zone, but retracted bac
Uzbekistan increases fees for crypto operations
Amaka Nwaokocha9 hours agoUzbekistan increases fees for crypto operationsThe National Agency for Prospective Projects anticipates the revenue generated from the sector to double once the new structure is in place.7741 To
Crypto Predictions 2025: Dragonfly’s Managing Partner Unveils What’s Ahead
Este artículo también está disponible en español. Haseeb Qureshi, managing partner at Dragonfly Capital, outlined his crypto predictions 2025 via X, forecasting transform
Crypto Analyst Warns Of Volume Drop That Could Trigger 60% Bitcoin Price Crash To $49,000
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu