Ethereum is inching closer to the $1,500 level as the weekend begins, pushing prices to a new one-month low. Overall sentiment in the crypto market is mostly bearish, with the total market capitalization sliding by 0.96% at the time of writing. Bitcoin is also facing downward pressure, as prices are now below $22,000.
Bitcoin
Bitcoin (BTC) continued its downward slide on Saturday, with prices staying near a three-week low.
After hitting a high of $21,919.33 earlier today, BTC/USD has dropped to $21,539.39 at the time of writing.
This move means that the leading cryptocurrency is trading at its lowest level since January 20.
Looking at the chart, prices have dropped even further since then, as the 14-day RSI fell to a low of 42.00.
At the time of writing, the index stands at 46.35. The resistance level can be seen on the 50.00 mark.
However, the momentum looks to be mostly bearish, with the 10-day MA (red) coming close to a crossover with its 25 day counterpart (blue).
Ethereal
Etheruem (ETH) dropped further into bearish territory on Saturday, coming close to a one-month low.
The intraday low for ETH/USD was $1,504.83 at the start of the weekend. This follows the failed attempt to hit the interim floor of $1.550.
This decline has pushed Ethereum to its lowest level of trading since mid-January, when it dropped to $1,449.
