ETH began the weekend trading at $2,000, as crypto price consolidation continues. Bitcoin is also trading lower during Saturday’s session, with the world’s largest cryptocurrency once again falling under $30,000.
Bitcoin
Following marginal gains above the $30,000 level during yesterday’s session, BTC once again fell below this point.
BTC/USD trades at a record high of 30664.98, although these gains are short-lived. Prices fell to their lowest level of $28,793.61 on Friday.
Prices are currently down by 3.27% as of this writing. This is because bulls couldn’t sustain the $28,800 price floor.
Due to increased market uncertainty following recent Federal Reserve actions, bitcoin has been consolidating. This is leading investors away from more risky assets.
BTC’s price has seen only a slight change over the last week, in spite of all the volatility.
Prices are currently down 0.25 percent from last week. However, sentiment is more bearish heading into May’s final week.
Ethereum
After briefly reaching the $2,000 threshold on Friday night, ethereum dropped below this level once more.
To begin the weekend, ETH/USD dropped to $1,926.68 intraday, which is slightly below its support level.
Following a bounce above its resistance of $1,950 on Friday, the world’s second-largest crypto token fell below this point earlier today.
However, ETH is now $20 more expensive than it was at the lows.
At the time of writing, however, the 14-day RSI remains in an oversold area, below 30, and near a resistance at 35.
The indicator’s ceiling is still a barrier to a possible rebound. Bulls can be confident about the possibility of a recovery.
Are we likely to see ETH trade above $2,000 by the end of this weekend? Comment below to share your views.
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