Ethereum (ETH) also slipped lower during today’s session, which can also be attributed to traders opting to secure gains.
Following a high of $1,669.02 on Tuesday, ETH/USD dropped to a low of $1,621.36 earlier in the day.
As a result of the move, the world’s second largest cryptocurrency fell close to a support point of $1,620.
Price has since rebounded, with ethereum trading at $1,631 at the time of writing, owing to bulls choosing to reject a breakout.
An earlier failed breakout attempt seems to be the reason for the decline, with the RSI unable to rise above a ceiling of 49.00.
Price strength now sits at 45.72, with a floor of 40.00 a possible target for short sellers.
Following a high of $1,669.02 on Tuesday, ETH/USD dropped to a low of $1,621.36 earlier in the day.
As a result of the move, the world’s second largest cryptocurrency fell close to a support point of $1,620.
Price has since rebounded, with ethereum trading at $1,631 at the time of writing, owing to bulls choosing to reject a breakout.
An earlier failed breakout attempt seems to be the reason for the decline, with the RSI unable to rise above a ceiling of 49.00.
Price strength now sits at 45.72, with a floor of 40.00 a possible target for short sellers.