/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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Bitcoin, Ethereum Technical Analysis: BTC Hovers Near Key Price Floor, Ahead of US Inflation Report – Market Updates Bitcoin NewsBitcoin was hovering close to a key price floor near $27,300 on Wednesday, as markets anticipated the upcoming U.S. inflation report.
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