Following several sessions of consolidation, ETH has finally caved in, dropping below the $2,000 floor in the process. As we move towards the end of the week bitcoin also fell for a second consecutive session, with prices falling below $29,000.
Bitcoin
Bitcoin dropped below the $29,000 level on Thursday, as bears continued to push prices lower this week.
As a result of a second consecutive session of selling, BTC/USD fell to an intraday low of $28,708.96 on Thursday.
This drop comes after prices were trading at a level of $30,016.18 on Wednesday. However they’ve fallen by over 3% as traders still look to find a stable support point.
Despite the 14-day Relative Strength Index (RSI) trading below 30, which is in oversold territory, many do not expect bulls to buy any dips, as some believe we could still be heading to further lows.
Looking at the chart, this indicator is currently tracking at 34.94, which is marginally below a ceiling of 35.46.
We will likely not see any significant ga
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