{"id":15202,"date":"2022-12-06T15:01:40","date_gmt":"2022-12-06T15:01:40","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/eth-falls-below-1300-following-mondays-false-breakout-market-updates-bitcoin-news\/"},"modified":"2022-12-06T15:01:40","modified_gmt":"2022-12-06T15:01:40","slug":"eth-falls-below-1300-following-mondays-false-breakout-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/eth-falls-below-1300-following-mondays-false-breakout-market-updates-bitcoin-news\/","title":{"rendered":"ETH Falls Below $1,300 Following Monday\u2019s False Breakout \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

Ethereum was in the red on Tuesday, as bears reentered the market following a failed breakout of a key resistance level. Prices failed to sustain yesterday\u2019s move above $1,300, with momentum slipping in today\u2019s session. Bitcoin was also lower, however is trading above $17,000 as of writing.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) was consolidating in today\u2019s session, as prices retreated from Monday\u2019s three-week high.<\/p>\n

Following a peak of $17,371.00 to start the week, BTC<\/a>\/USD fell to an intraday low of $16,922.43 earlier in the day.<\/p>\n

This decline comes as traders have seemingly moved to secure gains, following yesterday\u2019s surge in price.<\/p>\n

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

Looking at the chart, the drop took place as the 14-day relative strength index (RSI) was also unable to climb past a ceiling of its own.<\/p>\n

As of writing, the index is tracking at the 48.14 level, which is marginally below a ceiling of 50.00.<\/p>\n

Should a breakout occur, it is likely that BTC<\/a> will move back towards the $17,400 point in upcoming days.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) was also in the red during Tuesday\u2019s session, as a result of a failed breakout to start the week.<\/p>\n

ETH<\/a>\/USD fell to a bottom of $1,252.47 earlier in the day, which comes as bulls were unable to sustain a surge above the $1,300 mark.<\/p>\n

As of writing, ETH<\/a> is currently trading at $1,264.00, which is nearly 3% lower than Monday\u2019s peak of $1,302.24.<\/p>\n

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

Like with bitcoin, today\u2019s decline in ethereum comes as the RSI moved below its ceiling at the 52.00 level.<\/p>\n

Currently, the index is at a reading of 50.18, with the world\u2019s second largest cryptocurrency trading at $1,263.60.<\/p>\n

The 10-day (red) moving average continues to hover above its 25-day (blue) counterpart, which typically is a sign of pending bullish sentiment.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Will we see ethereum rebound in upcoming days? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

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

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n