[ad_1]
The price of Bitcoin (BTC / USD) declined following a downward correction following Wednesday's gains. The original cryptocurrency has consolidated into a range with a negative limit of $ 3,500. Having opened at $ 3,931.05, the digital currency dropped below the $ 3,900 level in the morning session and then continued to decline gradually until it reached an intraday low of $ 3,826.22 in late-afternoon trading. According to data from the trackmarketcap digital currency, the currency ended the session at $ 3,836.74. Bitcoin saw some modest gains during the early hours of today's session, when it rose to $ 3,863.42. However, the currency has withdrawn in the most recent trade and is currently trading below Thursday's closing level.
Ethereum continues to challenge market bears with a solid grip on the $ 150 handle
2018 was a difficult year for Bitcoin and the largest crypto currency. The original cryptocurrency ended the year at $ 3,742.70, having lost more than 73% in the 12 months to December 31st, amid rising regulatory pressure, high-profile cyberattacks against encrypted exchanges, a significant slowdown in the ICO market and weakening investor sentiment. But with 2019 already underway, cryptography supporters hope the market can return. And according to some technical indicators, a Bitcoin return could indeed come soon. In the meantime, Ethereum continues to challenge the bulls of the market and trade is positive. The ETH / USD pair is currently trading at $ 153, about 1% more than 24 hours ago.
A larger look at the chart shows that the bulls are giving a steady turn and that Ethereum is likely to retest $ 160 during the day. In addition, the pair managed to win back over $ 150 even if it opened trading below $ 150. The Relative Strength Index (RSI) resumed the uptrend from 48.57 to 65.57. The indicator is in a momentum towards the top that emphasizes that the bulls are in control. However, there is a mixed message from the Moving Average Convergence Divergence (MACD) that heads south from the 2019 maximum to +4.95. This means that bulls must find support over $ 160 to avoid a reversal of under $ 150.
<p class = "canvas-text canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "This article it was originally published on FX Empire "data-reactid =" 26 "> This article was originally published on FX Empire
More from FXEMPIRE:
Source link
