BTC, ETH consolidate according to the latest highs - market tactualizations

Bitcoin consolidated on January 16, when the US markets closed to Martin Luther King Jr. Day to celebrate the holiday celebrations. Traders have apparently tried to secure the latest profits after the world's largest cryptocurrency had increased over $ 21,000 for the first time since November. Ethereum also withdrew from the latest highs in today's session.

Bitcoin

bitcoin ( bitcoin ) at the beginning of the week, since the courses could not break out through an important level of resistance.

after a high of $ 21,345.25 on Sunday bitcoin /USD fell on an intraday-deep $ 20,681.98

This decline is due to the fact that the largest cryptocurrency in the world could not exceed its long -term upper limit of $ 21,400.

If you look at the diagram, this was expected due to the 14-day relative strength index (RSI), which moves in the overbought area.

At the moment, the course strength is currently moving at 86.65 after it has not been possible to move north of the 90.00 mark.

It is likely that further declines can be expected this week, with a lower limit of $ 20,000 is a potential goal for sellers.

ether

In addition to bitcoin ether ( eth ) also withdrew from the recent highest stands, which was done after a separate breakout.

eth /USD today fell on a low of 1,529.79 after a high of $ 1,579.48 was.

Ethereum was not able to maintain a movement over an upper limit of $ 1,580, which made space for a residential mood.

As with Bitcoin, Ethereum prices were significantly overbought, with the index reaching its highest level since January 2021.

Now at 83.46 pm, the next visible floor at the 70.00 mark seems to be, which, if it is hit, would be visible eth $ 1,475

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Eliman Damell

Eliman brings an eclectic point of view to the market analysis. Previously, he was a brokerage director and online trading instructor. He currently acts as a commentator for various investment classes, including crypto, stocks and foreign exchange, and is also the founder of a startup.

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