Bitcoin and Ethereum Technical Analysis 22th of April

Both ETH and BTC prices fell on Friday after recent price spikes back-to-back. The price of Bitcoin and Ethereum both plummeted by a significant amount today, with both retracing their losses to levels of support.

As BTC dropped back to its support level on Friday after a significant price recovery mid-week, the world’s most popular cryptocurrency was trading lower.

Earlier today, BTC/USD dropped to an intraday low of $40,063.83 after reaching a high of $42,699.87 on Thursday.

After failing to break clear above $42,700 resistance on Thursday, bitcoin prices fell down under $40,100, which is the long-term bottom for the cryptocurrency.

Bulls surrendered to a bearish attack at this historical resistance mark, even though the break was within striking distance of being realized

The 14-day RSI has failed to overcome its own barrier of 48.77, indicating that price strength has turned to weakness.

We are now trading at a floor of 42.85 for this indicator, and should it break, we might see a red wave this weekend.

ETH bulls may already be seeing the beginning of a red wave, after prices went below the $3000 level for the second time this week.

While the price of ETH/USD had recently risen to $3,187.93, it has now fallen to a low of $2,962.41 today.

Thus, the second biggest cryptocurrency fell below its long-term bottom of $3,000, as prices once again stabilized.

Trading at $3,300 and as high as $3,500 were on the minds of many investors only the other day in anticipation of a lengthy bull run.

Bears returned to the market in large numbers at the $3,150 ceiling, as they did with bitcoin’s price, but ETH was unable to break through resistance.

There is a possibility that we might see a continuation of today’s decline, or we could see a comeback in pricing to start the weekend tomorrow.

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