Fun

Bitcoin, Ethereum Technical Analysis: ETH Hits 2-Week Low, Following Move Below $1,900

News Feed - 2022-05-26 10:05:03

Bitcoin, Ethereum Technical Analysis: ETH Hits 2-Week Low, Following Move Below $1,900


Ethereum slipped below $1,900 during Thursday’s session, as prices dropped to a two-week low. Bitcoin was also trading lower over the course of the day, as it fell under $29,000. Overall, crypto was down over 3% as of writing. Bitcoin


BTC fell below $29,000 earlier in today’s session, as bearish pressure continued to intensify heading towards the end of the week.


Following a high of $29,972.64 only yesterday, the world’s largest cryptocurrency dropped to an intraday low of $28,954.97 earlier in the session.


The move saw BTC/USD head for its support point at $28,800. However, it stopped short of this target, as bulls pushed prices slightly higher. BTC/USD – Daily Chart


As of writing, BTC/USD is currently trading at $29,018.85, which is roughly 1.26% lower than yesterday’s peak.


Relative strength continues to track below its own resistance point, which is under 40, and currently resides at 37, which is marginally above support at 36.6.


We will not likely see any significant price movements unless one of these levels is broken.


Ethereum


The headline story in crypto markets on Thursday was undoubtedly ETH falling to a two-week low during today’s session.


Less than 24 hours after trading at a high of $2,014.37, ETH/USD sank to a bottom of $1,810.35 earlier in the day.


This move took ethereum to its lowest point since May 12, and comes as prices fell from their recent support point. ETH/USD – Daily Chart


Prices have mostly held this floor at $1,950 for the last fifteen days, however as bearish pressure intensified, we saw this level finally cave in.


What has not caved in is the ceiling on the 14-day RSI at 37, which held steady despite attempts from bulls to force a breakout.


This resulted in today’s drop, with the RSI now tracking at 31, which is close to a one-week low. Tags in this story Analysis, Bitcoin, ETH


Could we see ETH drop even further in the upcoming days? Leave your thoughts in the comments below. Eliman Dambell


Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Biggest Movers: AVAX and ATOM Over 10% Lower on Thursday MARKET UPDATES | 7 hours ago Crypto Market Turning Point — Most Cryptocurrencies Down 57% to Over 80% From Price Highs MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleChinese Indexes Company Launches Hang Seng Metaverse Index Next articleEthereum’s Beacon Network Deals With a 7-Block Chain Reorganization 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 ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

Someone ‘shit in the jacuzzi’ — Bitcoiners furious after testnet griefing
Brayden Lindrea5 hours agoSomeone ‘shit in the jacuzzi’ — Bitcoiners furious after testnet griefingThat “someone” — Bitcoiner Jameson Lopp — argues he was championing a much-needed fix to one of Bitcoin’
German Stock Exchange Boerse Stuttgart to Provide Crypto Custody Through Licensed Subsidiary
German Stock Exchange Boerse Stuttgart to Provide Crypto Custody Through Licensed Subsidiary Blocknox, a subsidiary of one of Europe’s largest stock exchanges, Boerse Stuttgart,
The Silk Road Balance Sheet Discrepancy: Bitcoin Worth $4.8 Billion Still Missing
The Silk Road Balance Sheet Discrepancy: Bitcoin Worth $4.8 Billion Still MissingThe original Silk Road marketplace has been shut down for well over seven years now and to this day,
Tom Blackstone5 hours agoAlphapo payment provider hack now estimated at over $60M — ZachXBTThe on-chain sleuth ZachXBT claims to have found an additional $37 million in losses suffered from the unconfirmed attack.2129
Coincheck, Thunder Bridge move closer to Nasdaq listing with public filing
Ana Paula Pereira7 hours agoCoincheck, Thunder Bridge move closer to Nasdaq listing with public filingCoincheck and Thunder Bridge Capital filed their registration statement with the SEC, bringing their merger and Nasdaq
Antpool Reveals Plans to Drop Ethereum Ethash Support, Plans to Keep Mining ETC
Antpool Reveals Plans to Drop Ethereum Ethash Support, Plans to Keep Mining ETC Antpool, the bitcoin mining pool affiliated with Bitmain, has announced the crypto mining operation
US Lawmaker Introduces Legislation to Regulate Crypto Assets and Protect Investors
US Lawmaker Introduces Legislation to Regulate Crypto Assets and Protect Investors A U.S. congressman has introduced the Digital Asset Market Structure and Inves
SUI Primed For Market Correction – Analyst Sets Target At $2.75
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
Why is Ethereum (ETH) price down today?
Yashu Gola9 hours agoWhy is Ethereum (ETH) price down today?ETH price dropped over 8% in the past 24 hours, driven by a growing sell-the-news sentiment following the launch of Ethereum ETFs.1405 Total views1 Total shares
Elon Musk Accuses Twitter of Fraud in Countersuit Over $44B Deal — Twitter Subpoenas Binance and Other Firms
Elon Musk Accuses Twitter of Fraud in Countersuit Over $44B Deal — Twitter Subpoenas Binance and Other Firms Tesla CEO Elon Musk has accused Twitter of fraud in his countersuit a
Whitepay Introduces Crypto Payments to Ukraine’s Tech Stores
Whitepay Introduces Crypto Payments to Ukraine’s Tech Stores Ukrainians will be able to purchase electronics and other products with digital coins thanks to a service provided by
Picpay to Offer Cryptocurrency Services in Brazil to More Than 60 Million Customers
Picpay to Offer Cryptocurrency Services in Brazil to More Than 60 Million Customers Picpay, one of the most popular payments fintech companies in Brazil, has announced that it will