Bitcoin, Ethereum Technical Analysis: ETH, BTC Lower as Bearish Momentum Returns on Friday

Following a slight surge in price, bitcoin was trading lower on Friday, as bearish momentum returned to crypto markets. BTC was once again nearing the $20,000 level in today’s session, while ETH fell below $1,100 earlier in the day.


BTC moved lower in Friday’s session, as bearish momentum once again reigned supreme in crypto markets.

Following a slight increase in price on Thursday, BTC/USD fell to an intraday low of $20,265.23 heading into the weekend.

As a result of Friday’s move, BTC moved towards what seems to be its new floor at $20,200 for the third day on the bounce.

Today’s decline also coincided with the 14-day RSI failing to break out of its ceiling close to the 26.35 area.

Whilst this indicator is currently tracking at 25.30, bears will likely attempt to take this to a support point at 22.

Should this occur, we will likely be looking at bitcoin trading below $20,000, which is something that could happen in the next few days.


In addition to declines in BTC, ETH was also marginally lower in today’s trading session, as it fell below a key price level.

ETH/USD slipped to an intraday low of $1,058.78 during Friday’s session, which is less than a day after it hit a peak of $1,138.27.

This drop sees ETH now trade marginally above its recent price floor of $1,050, which seems to be one of the last lines of defense preventing a move below $1,000.

As of writing, ETH has moved away from earlier lows, and is currently trading at $1,095.12, which is 1.48% lower than yesterday’s high.

Looking on the chart, the Relative Strength Index is tracking at 22, which is higher than its floor at 20.35.

If ETH is to remain above $1,000 during this upcoming weekend, price strength will need to stay above this point.

Could ETH fall below $1,000 this weekend? Leave your thoughts in the comments below.

Earning Passive Income With Crypto

Related Posts

400+ Crypto Advertisements Violate Guidelines in India — ‘Some Influencers Talk About Crypto Without Understanding It’

The Advertising Standards Council of India (ASCI) has reportedly revealed that more than 400 crypto ads violated its guidelines so far this year. The majority of complaints…

Investment: How To Calculate The Attractiveness of a Cryptocurrency

Investment: Asset manager, financier, and cryptocurrency teacher Alexander Alexandrovich Ryabinin says the investment attractiveness of digital assets can be determined by analyzing inflationary and deflationary processes. The…

Rich Dad Poor Dad’s Robert Kiyosaki Says He’s Waiting for Bitcoin to Test $1,100 to Buy More

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says he’s waiting for the price of bitcoin to test $1,100. He added that…

This is the Future of the Liquid Staking, Based on the Past

Staking and the future: The liquid staking industry is at a turning point, says Simon Furlong, the Co-Founder of Geode Finance. The various opportunities across DeFi and cryptocurrency…

Book by Nigerian Author Reminds New Adopters Why Bitcoin Was Created

Nigerian author and crypto advocate Nathaniel Luz has said his recently published book represents his attempt to remind people of the initial reason why bitcoin was created….

Voyager Digital Issued Notice of 3AC’s Loan Default; Here’s What Might Be Next

Crypto hedge fund Three Arrows Capital (3AC) has defaulted on an estimated loan of $670 million, as per the market update by Voyager Digital. In a release dated June…