Key Findings: BTC Technical Analysis
- Bitcoin price remains under the bearish momentum since the price rebounded from the $28K zone.
- The price rejected the $27K level and the 200 EMA resistance simultaneously, suggesting a further bearish movement.
- The long-term support at $25K remains a potential downside target for BTC.
Bitcoin Technical Analysis
The price of Bitcoin is 26,895.00 USD. Throughout the session, the price increased by +0.10% and fluctuated between 26,848.00 and 26,974.30 USD. Currently, the price is -0.29% off its peak and +0.18% from its lowest.
The BTC/USD daily chart indicates a bearish trend. Moving averages provide 67.86% bearish indications. This negative trend may slow down with short-term moving averages currently providing neutral signals. Moving averages do not cross one another, or the price does not cross a moving average.
Technically, Bitcoin failing to cross above the $27,000 level will indicate the price to continue with the current downtrend and retest the long-term support at $25,000 before the end of October.
Key Findings: ETH Technical Analysis
- Ethereum daily chart prints a large bearish candle rejecting the resistance of $1,620.
- The price is currently testing the mid-term support at $1,553.
- ETH may return to the long-term support near $1,436 following the current downtrend.
Ethereum Technical Analysis
The price of Ethereum (ETH) continues to move lower daily, with lower highs and lower lows. Although the biggest altcoin in market capitalization has lost about 12% of its value so far this month, there are indications that it may be starting to rise.
The price of ETH to USD is 1,550.09. The price was between 1,545.61 and 1,556.48 USD at the last closing, a decrease of -0.13%. This suggests that the price is -0.41% from its peak and +0.29% from its lowest point.
For a bearish outlook, we may see Ethereum breaking the support of $1,532 to a further downside rally targeting $1,436.
