Bitcoin was once again trading under $19,000, as the U.S. dollar moved to a one-week higher versus several G7 currencies. Friday’s move saw the token fall to a key support point in the process. Ethereum was also in the red in today’s session, as prices fell for a fourth straight day.
Bitcoin
Bitcoin (BTC) was back in the red on Friday, as the U.S. dollar continued to strengthen versus several G7 currencies.
Following a high of $19,315.20 during Thursday’s session, BTC/USD slipped to an intraday low of $18,945.48 earlier today.
The move pushed prices of the token towards a key support point of $18,900, as price strength also declined.
Looking at the chart, the relative strength index (RSI) of 14-days collided with a floor of 40.50, and as of writing is set to move below 40.00.
The 10-day (red) moving average has also extended its downward trend, which could be a sign of further bearish sentiment.
Should we see the RSI continue to trickle lower, there is a strong possibility that BTC could be trading below $18,000 this weekend.
Ethereum
In addition to bitcoin, ethereum (ETH) also returned to the red in today’s session, falling below $1,300 in the process.
Today’s sell-off saw ETH/USD drop to a bottom of $1,260.61, falling below a key price floor in the process.
The aforementioned support level in this instance was the point of $1,270, which was last broken on October 13.
At that time, prices of the world’s second largest cryptocurrency dropped below $1,200, and it appears that bears could once again be targeting a similar drop.
The next visible floor seems to be the $1,220 price floor, which could be reached if the RSI hits its own bottom of 36.70.
Register your email here to get weekly price analysis updates sent to your inbox:
Could ethereum fall below $1,200 this weekend? 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 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 disclaimer