Bitcoin
Bitcoin (BTC) is trading near the $29,000 level, with minimal volatility. It has been fluctuating between a support level of $28,800 and a resistance level of $29,500.
- BTC/USD reached a high of $29,166.82 earlier today.
- The relative strength index (RSI) is around 42.00, indicating a floor.
- The 10-day moving average has flattened after a downtrend, suggesting price stagnation.
- Consolidation may continue until the US inflation report on Wednesday.
Ethereum
Ethereum (ETH) is trading near a support level of $1,820, showing little movement. It reached a peak of $1,842.52 and a bottom of $1,824.12.
- The RSI for ETH has been unable to break through the 43.00 zone.
- Price strength is at 42.11, with a potential floor at 41.00.
- If bears gain market momentum, the target could be a move below $1,800.
Hot Take
The prices of Bitcoin and Ethereum have remained relatively stable, with both cryptocurrencies experiencing minimal volatility. Bitcoin is trading near $29,000, while Ethereum is hovering around $1,820. The RSI for both coins indicates a floor, suggesting a potential stabilization in prices. However, market movement may be influenced by the upcoming US inflation report. Overall, it seems that the crypto market is in a period of consolidation as investors await further developments.
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