{"id":12824,"date":"2022-06-17T13:18:51","date_gmt":"2022-06-17T13:18:51","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/eth-btc-lower-as-bearish-momentum-returns-on-friday-market-updates-bitcoin-news\/"},"modified":"2022-06-17T13:18:51","modified_gmt":"2022-06-17T13:18:51","slug":"eth-btc-lower-as-bearish-momentum-returns-on-friday-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/eth-btc-lower-as-bearish-momentum-returns-on-friday-market-updates-bitcoin-news\/","title":{"rendered":"ETH, BTC Lower as Bearish Momentum Returns on Friday \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Following a slight surge in price, bitcoin was trading lower on Friday, as bearish momentum returned to crypto markets. BTC<\/a> was once again nearing the $20,000 level in today\u2019s session, while ETH<\/a> fell below $1,100 earlier in the day. <\/b><\/p>\n

Bitcoin<\/h2>\n

BTC<\/a> moved lower in Friday\u2019s session, as bearish momentum once again reigned supreme in crypto markets.<\/span><\/p>\n

Following a slight increase in price on Thursday, BTC<\/a>\/USD fell to an intraday low of $20,265.23 heading into the weekend.<\/span><\/p>\n

As a result of Friday\u2019s move, BTC<\/a> moved towards what seems to be its new floor at $20,200 for the third day on the bounce. <\/span><\/p>\n

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BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Today\u2019s decline also coincided with the 14-day RSI failing to break out of its ceiling close to the 26.35 area.<\/span><\/p>\n

Whilst this indicator is currently tracking at 25.30, bears will likely attempt to take this to a support point at 22.<\/span><\/p>\n

Should this occur, we will likely be looking at bitcoin trading below $20,000, which is something that could happen in the next few days.<\/span><\/p>\n

Ethereum<\/h2>\n

In addition to declines in BTC<\/a>, ETH<\/a> was also marginally lower in today\u2019s trading session, as it fell below a key price level.<\/span><\/p>\n

ETH<\/a>\/USD slipped to an intraday low of $1,058.78 during Friday\u2019s session, which is less than a day after it hit a peak of $1,138.27.<\/span><\/p>\n

This drop sees ETH<\/a> now trade marginally above its recent price floor of $1,050, which seems to be one of the last lines of defense preventing a move below $1,000.<\/span><\/p>\n

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

As of writing, ETH<\/a> has moved away from earlier lows, and is currently trading at $1,095.12, which is 1.48% lower than yesterday\u2019s high.<\/span><\/p>\n

Looking on the chart, the Relative Strength Index is tracking at 22, which is higher than its floor at 20.35.<\/span><\/p>\n

If ETH<\/a> is to remain above $1,000 during this upcoming weekend, price strength will need to stay above this point.<\/span><\/p>\n

Could ETH<\/a> fall below $1,000 this weekend? 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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