Bitcoin, Ethereum Technical Analysis: BTC, ETH Start Week Lower as Bearish Sentiment Returns to Markets

Bitcoin fell to a six-day debased to commencement the week, arsenic the token moved person to the $16,000 level. The driblet sees prices autumn for a 5th consecutive session, with wide sentiment successful the cryptocurrency marketplace turning bearish. Ethereum was erstwhile again trading beneath $1,200, aft trading supra this constituent successful caller days.

Bitcoin

Bitcoin (BTC) fell for a 5th consecutive league connected Monday, arsenic the token moved person to a breakout beneath $16,000.

BTC/USD slipped to an intraday debased of $16,086.36 to commencement the week, which comes little than 24 hours aft hitting a highest of $16,594.41.

As a effect of today’s drop, bitcoin moved to its lowest constituent since past Tuesday, November 22, erstwhile terms was astatine a debased of $15,613.

BTC/USD – Daily Chart

Looking astatine the chart, Monday’s sell-off intensified erstwhile a breakout connected the comparative spot scale (RSI) occurred.

The index, which is presently tracking astatine 36.89, moved beneath a caller enactment constituent of 38.00, and looks to beryllium heading for a little level astatine 35.50.

Should terms spot scope its perceived destination, This volition apt pb to BTC falling beneath $16,000.

Ethereum

In summation to BTC, ethereum (ETH) besides moved little to commencement the week, with prices erstwhile again moving nether $1,200.

Following a precocious of $1,218.51 connected Sunday, the world’s 2nd largest cryptocurrency dropped to a debased of $1,162.19 earlier today.

The diminution pushed ETH/USD beneath a cardinal enactment constituent of $1,180, and came arsenic the RSI failed to interruption retired of a semipermanent absorption level.

ETH/USD – Daily Chart

As tin beryllium seen from the chart, terms spot was incapable to afloat determination beyond a ceiling of 43.00, and is presently tracking astatine 40.62.

In summation to this, the 10-day (red) moving mean has shifted direction, with momentum erstwhile again downward facing.

Overall, a people of $1,070 appeared to beryllium a apt destination for bears, should momentum proceed to decline.

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Will ethereum commencement December supra oregon beneath $1,200? Leave your thoughts successful the comments below.

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