Following marginal gains above the $30,000 level during yesterday’s session, BTC once again fell below this point.Friday saw BTC/USD trading at a high of 30,664.98, however these gains were short-lived, with prices falling to a bottom of $28,793.61 earlier today.As of writing, prices are down 3.27% to start the weekend, with this decline coming as bulls were unable to sustain the price floor at $28,800.The recent consolidation in bitcoin comes as a result of increased market uncertainty, following recent actions by the Federal Reserve, leading investors to move away from riskier assets.This is encapsulated by the fact that BTC has only seen a marginal move in price over the past week, despite all the ups and downs.Overall and as we speak, prices are down 0.25% from the same point last week, however sentiment seems to be more bearish as we head into the final week of May.
Ethereum
After briefly breaking back into the $2,000 level on Friday, ethereum once again slipped below this point.To start the weekend, ETH/USD has so far dropped to an intraday low of $1,926.68, which is slightly under its current support point.Following a bounce above its resistance of $1,950 on Friday, the world’s second-largest crypto token fell below this point earlier today.However, since reaching these lows, price strength has slightly risen, with ETH now trading $20 above this price floor. As of writing, the 14-day RSI is still tracking within oversold territory, which is below 30, and close to a resistance of 35.Bulls will still be optimistic about a potential rebound, providing that we see a breakthrough of the ceiling with the indicator.Will we see ETH end the weekend trading above $2,000? Leave your thoughts in the comments below.
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