{"id":12451,"date":"2022-05-21T17:49:53","date_gmt":"2022-05-21T17:49:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/eth-back-below-2000-to-start-the-weekend-market-updates-bitcoin-news\/"},"modified":"2022-05-21T17:49:53","modified_gmt":"2022-05-21T17:49:53","slug":"eth-back-below-2000-to-start-the-weekend-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/eth-back-below-2000-to-start-the-weekend-market-updates-bitcoin-news\/","title":{"rendered":"ETH Back Below $2,000 to Start the Weekend \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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ETH<\/a> started the weekend trading below $2,000 as the price consolidation in crypto continued. Bitcoin is also trading lower during Saturday\u2019s session, with the world\u2019s largest cryptocurrency once again falling under $30,000.<\/b><\/p>\n

Bitcoin<\/h2>\n

Following marginal gains above the $30,000 level during yesterday\u2019s session, BTC<\/a> once again fell below this point.<\/span><\/p>\n

Friday saw BTC<\/a>\/USD trading at a high of 30,664.98, however these gains were short-lived, with prices falling to a bottom of $28,793.61 earlier today.<\/span><\/p>\n

As of writing, prices are down 3.27% to start the weekend, with this decline coming as bulls were unable to sustain the price floor at $28,800.<\/span><\/p>\n

\"Bitcoin,
BTC<\/a>\/USD -Daily Chart<\/figcaption><\/figure>\n

The recent consolidation in bitcoin comes as a result of increased market uncertainty, following recent actions by the Federal Reserve, leading investors to move away from riskier assets.<\/span><\/p>\n

This is encapsulated by the fact that BTC<\/a> has only seen a marginal move in price over the past week, despite all the ups and downs.<\/span><\/p>\n

Overall and as we speak, prices are down 0.25% from the same point last week, however sentiment seems to be more bearish as we head into the final week of May.<\/span><\/p>\n

Ethereum<\/h2>\n

After briefly breaking back into the $2,000 level on Friday, ethereum once again slipped below this point.<\/span><\/p>\n

To start the weekend, ETH<\/a>\/USD has so far dropped to an intraday low of $1,926.68, which is slightly under its current support point.<\/span><\/p>\n

Following a bounce above its resistance of $1,950 on Friday, the world\u2019s second-largest crypto token fell below this point earlier today.<\/span><\/p>\n

\"Bitcoin,
ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

However, since reaching these lows, price strength has slightly risen, with ETH<\/a> now trading $20 above this price floor. <\/span><\/p>\n

As of writing, the 14-day RSI is still tracking within oversold territory, which is below 30, and close to a resistance of 35.<\/span><\/p>\n

Bulls will still be optimistic about a potential rebound, providing that we see a breakthrough of the ceiling with the indicator.<\/span><\/p>\n

Will we see ETH<\/a> end the weekend trading above $2,000? Leave your thoughts in the comments below.<\/i><\/b><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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