Bitcoin, Ethereum Technical Analysis: BTC Falls to $27,000 Ahead of US Consumer Confidence Report 

Bitcoin remained adjacent to a four-week debased connected Tuesday, arsenic prices fell to a enactment constituent astir $27,000. The diminution came up of this afternoon’s U.S. user assurance report, which is expected to autumn from 104.2, to a speechmaking of 104 successful April. Ethereum was besides lower, and approached a breakout beneath the $1,800 level.

Bitcoin

Bitcoin (BTC) continued to commercialized adjacent a one-month low, arsenic markets prepared for the upcoming user assurance study successful the United States.

Following a precocious of $27,701.26 during yesterday’s session, BTC/USD fell to a debased of $27,070.85 connected Tuesday.

This is the weakest constituent that bitcoin has fallen to since March 28, which is erstwhile it past traded beneath $27,000.

BTC/USD – Daily Chart

Looking astatine the chart, it appears that this driblet took spot arsenic the comparative spot scale (RSI) moved backmost towards a level astatine 41.00

At the clip of writing, terms spot is tracking astatine 43.14, pursuing a failed breakout of a ceiling astatine 45.00.

Should bears propulsion the scale beneath 41.00, determination is simply a bully accidental that BTC volition determination to a little level astatine $26,500.

Ethereum

Ethereum (ETH) was besides successful the reddish successful today’s session, with bears pushing the terms towards the $1,800 mark.

ETH/USD dropped to an intraday debased of $1,807.74 connected Tuesday, pursuing a precocious astatine $1,874.11 the time prior.

Tuesday’s slippage came arsenic ethereum fell beneath its caller enactment constituent astatine the $1,830 mark, which had been successful spot since April 4.

ETH/USD – Daily Chart

From the chart, this latest downturn came aft the RSI indicator collided with a ceiling astatine the 48.00 level.

Price spot is present tracking astatine 43.67, with a enactment constituent astatine 42.00 a imaginable people for bears should momentum proceed successful its existent direction.

The 10-day (red) moving mean is present besides nearing a transverse with its 25-day (blue) counterpart, which could beryllium a motion of upcoming declines.

Register your email present to get play terms investigation updates sent to your inbox:

Will crypto prices rebound pursuing today’s user assurance report? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.