Bitcoin, Ethereum Technical Analysis: BTC Flatlines on Monday, as Market Volatility Continues to Fade

Bitcoin started the week mostly flat, arsenic marketplace volatility remained adjacent caller lows during today’s session. Traders look to beryllium connected the sidelines up of Wednesday’s cardinal ostentation study from the United States. Ethereum mostly consolidated connected Monday.

Bitcoin

Bitcoin (BTC) continued to hover adjacent the $29,000 level to commencement the week, arsenic marketplace volatility was mostly muted connected Monday.

After Sunday’s debased astatine $28,963.83, BTC/USD jumped to a precocious of $29,166.82 earlier successful today’s session.

The world’s largest cryptocurrency has mostly been trading betwixt a enactment level of $28,800, and a absorption of $29,500 for the bulk of the past week.

Looking astatine the chart, the comparative spot scale (RSI) is besides tracking adjacent a level of its ain astir the 42.00 mark.

In summation to this, the 10-day (red) moving mean has begun to flatline pursuing a downtrend, which is simply a motion of terms stagnation.

Consolidation could apt proceed until Wednesday’s ostentation study successful the United States.

Ethereum

Ethereum (ETH) was besides mostly unchanged connected Monday, with terms trading adjacent a enactment level of $1,820.

ETH/USD peaked astatine $1,842.52 earlier successful today’s session, pursuing a determination to a bottommost astatine $1,824.12 connected Sunday.

The terms has since tailed off, with ethereum present trading astir the $1,833.08 mark, astatine the clip of writing.

ETH’s deficiency of question comes arsenic the RSI has been incapable to interruption retired of a ceiling astatine the 43.00 zone.

Price spot is present astatine 42.11, with the adjacent disposable level astatine 41.00, successful the lawsuit bears seizure marketplace momentum.

Should this occur, a determination beneath $1,800 could beryllium the target.

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What is down this caller spell of marketplace consolidation? Leave your thoughts successful the comments below.