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Bitcoin, Ethereum Technical Analysis: ETH, BTC Fall to Multi-Week Lows, Following US Inflation Data – Market Updates Bitcoin News

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BTC moves to 7-week low, as ETH drops below $1,800 following U.S. inflation report.

/USD slipped to a bottom at $1,795.67 late on Wednesday, following an earlier peak of $1,886.80.

As a result of the sell-off, the cryptocurrency dropped to its lowest level since April 26, however price has since rebounded.One of the catalysts for the sell-off was a breakout which took place on the RSI, which saw the index fall below 45.00. At the time of writing, price strength is tracking at 43.93, with ethereum now trading at a price of $1,824.22.

It appears that a crossover between the 10-day , and 25-day moving averages will likely occur, and could signal a reversal in momentum.Tags in this story

 

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