Bitcoin (BTC) experienced a slight decline as it fell below $31,000 on Monday, reaching an intraday low of $30,042.38. This marks the third consecutive day of decline for bitcoin and is accompanied by the relative strength index (RSI) entering overbought territory. The RSI peaked at 72.92 over the weekend, prompting bears to enter the market and pushing the RSI down to a current reading of 68.81. If the support point at 68.00 is broken, there is a possibility that BTC may slip below $30,000.
In the case of Ethereum (ETH), it failed to stay above the key price level of $1,900 on Monday. After reaching a high of $1,920.08 on Sunday, ETH/USD dropped by 2% and hit a bottom of $1,870.30. However, it has since rebounded slightly and is currently trading at $1,882.04. The inability to surpass the ceiling at 61.00 and a failed attempt to move above $1,930 has resulted in bearish momentum for Ethereum. Additionally, the RSI fell below the floor at 58.00 with a current reading of 57.75.
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