Bitcoin, Ethereum Technical Analysis: ETH Down, as Two-Day Winning Streak Ends on Hump Day
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Loading... - Martha Adongo
- 23 Jun 2022
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Bitcoin
Following two straight days of gains, BTC was lower on hump day, as bears seemingly re-entered the marketplace.
BTC/USD is down by nearly 3% as of writing, after hitting an intraday low of $20,045.63 earlier in today’s session.
This move comes after prices failed to sustain a breakout of yesterday’s resistance level at the $21,000 mark.
Typically after such a false breakout, this acts as a signal to bears to retake momentum, however there seems to be a level of uncertainty still in this.
After previous lows today, BTC is now trading almost $500 higher, which shows that the bullish sentiment from the past two days still remains.
Despite this, bears will likely attempt to test this sentiment, and attempt to push bitcoin off the $20,000 cliff in coming days.
Ethereum
Ethereum was also a cliff of its own, as bears once again pushed prices close to the $1,000 level in today’s session.
Following a peak of $1,185.43 on Tuesday, ETH/USD slipped to a bottom of $1,073.88 on hump day.
This move put an end to ETH’s first two-day winning streak since June 5, and as of writing the token is trading roughly 4% lower. Read More…
