Bitcoin, Ethereum Technical Analysis: BTC, ETH Start the Week Lower, as Market Volatility Remains High 

Cryptocurrency markets consolidated to begin the week, with bitcoin buying and selling beneath the $27,000 mark throughout right this moment’s session. Volatility has been considerably greater prior to now few days, because the unemployment charge within the United States surged to a multi-month excessive.

Bitcoin

Bitcoin (BTC) was buying and selling beneath the $27,000 degree on Monday, as crypto market volatility remained excessive to begin the week.

Following a excessive of $27,407.02 on Sunday, BTC/USD slipped to an intraday low of $26,712.73 earlier in right this moment’s session.

As a results of the transfer, the relative power index (RSI) fell beneath a latest help level on the 47.00 degree.

The index is now monitoring at 44.43, which is marginally above an upcoming flooring on the 43.00 mark.

Should bears retreat thus far, there’s a sturdy risk that BTC may collide with a flooring of its personal at $26,300.

Despite this, there’s nonetheless some optimism from bulls {that a} latest upwards cross of shifting averages may level to an upcoming shift in momentum.

Ethereum

Ethereum (ETH) additionally suffered from the day’s volatility, with costs as soon as once more shifting beneath $1,900.

ETH/USD dropped to a backside at $1,864.17 to begin the week, which comes a day after buying and selling at $1,912.21.

The decline is the third straight day through which the world’s second largest cryptocurrency has fallen decrease.

Should bears proceed to regulate market sentiment, ETH will doubtless hit a flooring on the $1,830 degree.

Price power is at the moment at a studying of 51.57, with some extent of help shut, on the 51.00 zone.

In the occasion this degree is damaged, there’ll doubtless be an inflow of bearish exercise.

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