June 15, 2024

Rise To Thrive

Investing guide, latest news & videos!

Bitcoin, Ethereum Technical Analysis: ETH Falls to 9-Day Low Below $1,300 – Market Updates Bitcoin News

2 min read
Bitcoin, Ethereum Technical Analysis: ETH Falls to 9-Day Low Below ,300 – Market Updates Bitcoin News

Ethereum fell to a nine-day low during Tuesday’s session, as the U.S. dollar rose to a two-week high. The decline comes ahead of this week’s U.S. inflation report, which is expected to show consumer prices falling by 0.2% month-on-month. Bitcoin was also in the red during today’s session, moving below $19,000.


Bitcoin (BTC) fell below $19,000 for the first time in over a week in today’s session, as the U.S. dollar rose in strength.

USD climbed to its highest point in nearly two weeks versus several of its G7 counterparts, ahead of Thursday’s inflation report.

As a result, BTC/USD slipped to an intraday low of $18,984.66 earlier in the day, which is its weakest point since October 3.

Looking at the chart, today’s drop in price sees the token fall marginally below its key support point of $19,300.

In addition to the price, the 14-day relative strength index (RSI) also dropped below a floor of 45.80, and as of writing, is tracking at 44.67.

Bitcoin bulls have since reentered, and pushed the token back above $19,000, however prices are still below the aforementioned support point.


Unlike bitcoin, ethereum (ETH) has remained mostly lower in today’s session, with the token unable to rebound from earlier declines.

ETH/USD slipped to an intraday low of $1,272.98 on Tuesday, which sees the world’s second largest cryptocurrency hit its lowest point in over a week.

After threatening to break out of its floor of $1,300 on Monday, bearish pressure intensified today, ahead of the inflation report from the United States.

As of writing, ethereum continues to trade below $1,300, however prices have moved away from the earlier low.

Today’s move has pushed the 10-day (red) moving average closer to an upwards crossover with its 25-day counterpart.

Bulls will likely be using this as a sign to reenter the market in coming days, thus sending prices back above $1,300, and closer to $1,400.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story

Will ethereum rally following the inflation report? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons, rafapress / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer