As market volatility remained close to recent lows during today’s session, bitcoin started the week largely flat. Ahead of Wednesday’s important US inflation report, traders seem to be taking a break. On Monday, ethereum generally remained stable.
#BTC started the week trading below $17k, as market volatility remained high, following last week’s collapse of FTX. Price strength is rebounding, and the RSI is now higher. Musk responded to Jason's tweet with the phrase " BTC will make it, but might be a long winter."#Hotbit pic.twitter.com/yYgidfKYKx
— Hotbit_ETF (@Hotbit_ETF) November 14, 2022
As market volatility was largely limited on Monday, Bitcoin (BTC) continued to float around the $29,000 mark to start the week.
BTC/USD soared to a high of $29,166.82 earlier in today’s session after hitting a low of $28,963.83 on Sunday.
The $WLD airdrop is LIVE NOW !
EMPTY WALLETS IS NOT ELIGIBLE
CLAIM HERE: https://t.co/Aw3F1fYliA
— Ben.eth (@qJLOCwQeqa6BX3O) August 8, 2023
The largest cryptocurrency in the world has spent the majority of the past week fluctuating between a support level of $28,800 and a resistance level of $29,500.
The price of Ethereum (ETH) was trading close to a support level of $1,820 on Monday and remained essentially unchanged.
ETH/USD reached its highest point today at $1,842.52, after moving to a low point on Sunday of $1,824.12.
Since then, the price has decreased; at the time of this writing, ethereum is trading at about $1,833.08.
THE $PNDC AIRDROP IS LIVE 👇
BRING IT TO THE POND! 🐸
Claim here: 🔗 https://t.co/DuDIuH1bnT$SEI #SEI #AVAX #AVALANCHE #POLYGON $MATIC #BTC #ETH #CRYPTO #Worldcoin #BITCOIN #ETHEREUM $BALD #SPAWN $PNDC $HEX $X #OPTIMISM $BASE $CRV #AAVE $LIDO #PNDC pic.twitter.com/MgI3fXn5qm
— . (@william_b_o) August 8, 2023
The current price strength is 42.11, and if bears manage to take market momentum, the next observable floor is 41.00.
If this happens, a move toward $1,800 might be the objective.