Bitcoin, Ethereum Technical Analysis: BTC Hits 10-Day Low, Caroline Ellison Confirms Fraud on Behalf of SBF
Bitcoin chart by TradingView
This plunge pushed the world’s largest cryptocurrency to
its weakest point since the start of October. Looking at the chart, the move resulted in bitcoin briefly falling below
a floor at $27,100, prior to bulls reentering the market.
The relative strength index (RSI) also fell below a
support point of its own at 53.00, and is currently tracking
at 51.67. BTC has since rebounded from its earlier low, and i
s currently trading at $27,292.17.
Ethereum chart by TradingView
As a result of the recent sell-off, the 10-day (red) moving average has now crossed with its 25-day (blue) counterpart. Should this crossover continue to mature in a downtrend, there is a good chance that ETH will soon
fall below $1,500.
Ethereum (ETH) returned above a key support point of $1,565, after price broke out of this level earlier in the day. ETH/USD edged to a low
of $1,551.68 earlier in the day, before bouncing back and hitting its current price
of $1,575.39.
