Bitcoin trades below $19,000 as the U.S.dollar moved to an one-week high versus many G7 currencies. Friday’s move saw the token fall to a key support point in the process. Ethereum was also in the red in today’s session, as prices fell for a fourth straight day.
Bitcoin
Bitcoin (BTC), was again in the red, due to continued strengthening of the U.S. Dollar versus other G7 currencies.
Following a high of $19,315.20 during Thursday’s session, BTC/USD slipped to an intraday low of $18,945.48 earlier today.
This move caused prices to rise towards $18,900 as a support level, and also led to a decline in price strength.
The chart shows that the relative strength indicator (RSI), 14-days, collided with a floor at 40.50 and is currently set to fall below 40.00.
Also, the 10-day (red-colored) moving average extended its downward trend which may indicate continued bearish sentiment.
If the RSI continues to fall, it is possible that BTC will trade below $18,000 on Saturday.
Ethereum
In addition to bitcoin, ethereum (ETH) also returned to the red in today’s session, falling below $1,300 in the process.
Today’s sell-off saw ETH/USD drop to a bottom of $1,260.61, falling below a key price floor in the process.
This support level, $1,270 was reached on October 13th.
At that time, prices of the world’s second largest cryptocurrency dropped below $1,200, and it appears that bears could once again be targeting a similar drop.
The $1,220 price floor appears to be the next visible floor. This could be achieved if the RSI reaches 36.70.
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