ETH continues to trade close to $3,400, despite upwards momentum easing during the session.
have also pulled back, as prices continue to hover close to recent resistance levels, with some fearing price reversals./USD traded at an intraday low of $46,620.72 during today’s session.
Bitcoin has climbed by as much as 10% in the last week, however this momentum has eased, leading to consolidation.Some believe we could see this reversal in price strength take us back towards the $45,000 level, but this could be a short-term retreat as bulls continue to target $50,000. Looking at the chart, the 14-day RSI has also begun to tail off, and is now close to its floor of 61, however should it not break below this level, bulls may continue to hold onto some hopes of a return to upside action.
The current move looks similar to what took place in early January, when prices were last trading at the current resistance below $48,000.
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