{"id":16640,"date":"2023-01-19T14:32:50","date_gmt":"2023-01-19T14:32:50","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/eth-btc-lower-us-retail-sales-slow-market-updates-bitcoin-news\/"},"modified":"2023-01-19T14:32:50","modified_gmt":"2023-01-19T14:32:50","slug":"eth-btc-lower-us-retail-sales-slow-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/eth-btc-lower-us-retail-sales-slow-market-updates-bitcoin-news\/","title":{"rendered":"ETH, BTC Lower, US Retail Sales Slow \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Ethereum fell lower on Thursday, as cryptocurrency markets continued to react to the latest U.S. retail sales figures. Sales in the United States fell by more than expected, coming in 1.1% lower in December. Bitcoin also declined in today\u2019s session, with prices falling below the $21,000 mark.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) dropped below the $21,000 mark on Thursday, as crypto markets fell following slowing U.S. retail sales figures.<\/p>\n

The decline saw BTC<\/a>\/USD hit an intraday low of $20,541.54 earlier in today\u2019s session, fresh from a four-month high of $21,564.50.<\/p>\n

Since the sell-off, BTC<\/a> now seems to be in search of a support point, with the $20,500 mark a likely candidate.<\/p>\n

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

Looking at the chart, a drop was somewhat expected with the 14-day relative strength index (RSI) tracking near a two-year high in recent days.<\/p>\n

As of writing, the index is at the 78.40 level, which is marginally above a floor at the 77.00 mark.<\/p>\n

Should a move below this point take place, it is likely that BTC<\/a> bears could push prices towards the $20,000 zone.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>), which rose above $1,600 on Wednesday, was also in the red in today\u2019s session, falling towards a five-day low.<\/p>\n

Following a high of $1,602.11 on hump-day, ETH<\/a>\/USD dropped to a bottom of $1,509.42 earlier today.<\/p>\n

As a result of the move, ETH<\/a> fell to its lowest point since Saturday, when prices hit a floor of $1,449.<\/p>\n

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

From the chart, ETH<\/a>\u2019s price strength has also hit a support level, with the RSI currently hovering close to a floor at 70.00.<\/p>\n

Should momentum continue to trend downwards, the next signal will be that of the 10-day (red) moving average, which for now remains upward facing.<\/p>\n

Providing this occurs, ethereum sellers will likely be targeting a move near the $1,350 mark.<\/p>\n

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

Could we see ethereum and bitcoin extend declines in the coming days? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

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

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

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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

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