Bitcoin
Bitcoin (BTC) fell below the $29,000 mark on Tuesday due to the strengthening of the U.S. dollar. The price dropped to a low of $28,801.28, the lowest since June 21 when it was at $28,271.
- Bitcoin slipped below $29,000 due to a stronger U.S. dollar.
- The price reached a low of $28,801.28, the lowest since June 21.
- The move followed a breakout of the 41.00 level on the relative strength index (RSI).
- The RSI is currently at 39.29, with the next support level at 35.00.
- If it reaches this level, there is a chance that BTC will drop below $28,300.
Ethereum
Ethereum (ETH) also experienced a decline, reaching a multi-week low. The cryptocurrency dropped to an intraday low of $1,818.41 on Tuesday, the lowest since June 28.
- Ethereum fell to a multi-week low of $1,818.41.
- The decline marked the third straight session of losses for ETH.
- The RSI fell below a floor at 43.00 and is currently at 41.96.
- Bears are targeting the $1,795 level, last hit on June 21.
Bitcoin and Ethereum both faced selling pressure as the U.S. dollar strengthened. This resulted in both cryptocurrencies reaching their lowest points in weeks. The RSI played a role in the declines, with both Bitcoin and Ethereum breaking key support levels. It remains to be seen whether these levels will hold or if further downside is in store. The crypto market continues to be volatile, so it is important to closely monitor price movements and market indicators.
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