Bitcoin, Ethereum Technical Analysis: BTC Flatlines on Monday, as Market Volatility Continues to Fade
Bitcoin started the week mostly flat, as market volatility remained near recent lows during today’s session. Traders appear to be on the sidelines ahead of Wednesday’s key inflation report from the United States. Ethereum mostly consolidated on Monday. Bitcoin Bitcoin ( BTC ) continued to hover near the $29,000 level to start the week, as market volatility was mostly muted on Monday. After Sunday’s low at $28,963.83, BTC /USD jumped to a high of $29,166.82 earlier in today’s session. The world’s largest cryptocurrency has mostly been trading between a support level of $28,800, and a resistance of $29,500 for the majority of the last week. Bitcoin chart by TradingView Looking at the chart, the relative strength index (RSI) is also tracking near a floor of its own around the 42.00 mark. In addition to this, the 10-day (red) moving average has begun to flatline following a downtrend, which is a sign of price stagnation. Consolidation could likely continue until Wednesday’s