While it seems that traders have finally decided to secure their profits after their recent gains. Bitcoin It traded lower today.
BTC/USD fell to an intraday low of $33,278.40 late in yesterday’s session, following a previous peak above $35,000.
Bulls ever since crypto- money Even though it pushed the unit higher, the price is currently at $34,246.74. Additionally, it remains below the highs seen on Tuesday.
One reason for this is the relative strength index (RSI), which was significantly overbought on Tuesday, hovering around 89.00.
Currently the index is at 87.22, meaning it is marginally lower. However, he is still poised for a comeback.
Today’s conversation could be the storm that traders are waiting to clear before intensifying recent momentum or selling further.
Ethereum
Ethereum (ETH) broke below the $1,800 level on Wednesday, ending its six-day winning streak.
After reaching $1,852.68 in yesterday’s session, ETH/USD dropped to $1,758.69 in the early hours of the day.
ETH has recovered marginally since then. Koinfinans.com As we reported, it is currently trading at $1,784.57, which is over 3% lower than Tuesday’s peak.
Overall sentiment remains largely positive. Additionally, the 10-day (red) moving average is extending the uptrend compared to its 25-day (blue) counterpart.
Although the RSI on Ethereum is also overbought and is trending above 70.00, the bulls may try to push the price above $1,900 on this rise.