Bitcoin, Ethereum Technical Analysis: ETH Below $1,600 Ahead of Key US Economic Releases

Bitcoin, Ethereum Technical Analysis: ETH Below $1,600, Ahead of Key US Economic Releases

Ethereum has started the week below $1,600, as markets appeared to be awaiting the release of several key data points from the United States. After a quiet week, the coming days will see the latest inflation, retail sales, and consumer sentiment figures released. Bitcoin remained lower on Monday.


Bitcoin started yet another week trading under the $26,000 level, as traders began to prepare for upcoming U.S. economic releases.

BTC/USD slipped to a low of $25,620.46 earlier in today’s session, after ending the weekend at a peak of $25,978.13.

Monday’s decline in price saw bitcoin continue to hover close to a key support point at the $25,600 region.

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The slippage comes as the 14-day relative strength index (RSI) moved closer to a floor of its own at the 35.00 mark.

At the time of writing, the index is tracking at a reading of 37.09, which comes after failing to break out of a ceiling of 45.00 last week.

Should bulls reject a drop below 35.00, there is a good chance that BTC reverses in the coming days.


Ethereum (ETH) edged lower to start the week, with price falling below the $1,600 level on Monday.

After peaking at $1,627.67 on Sunday, ETH/USD raced to an intraday low of $1,581.79 during today’s session.

This resulted in the world’s second largest cryptocurrency falling to its lowest level since August 22.

new TradingView.widget( { “width”: “100%”, “height”: “400”, “symbol”: “BITSTAMP:ETHUSD”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “light”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#F1F3F6”, “enable_publishing”: false, “container_id”: “tradingview_1247e”
} );

The decline arrives as a breakout occurred on a price floor of $1,620, with bears rushing into the market as a result.

Price strength is now oversold, and is tracking at 31.27, with the next support point at the 28.00 zone.

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