After a string of recent declines, ETH continued to trade near a six-week low as the weekend began. BTC was also lower on Saturday as the world’s largest cryptocurrency stayed closer to a two-month low.


BTC traded lower again on Saturday as prices struggled to find a bottom after Friday’s sell-off.

After hitting an intraday low of $35,482.13 during yesterday’s session, BTC/USD is marginally higher but still close to its two-month low.

In today’s session so far, BTC has surged to a high of $36,357.75, which is about 0.26% higher than yesterday’s low.

BTC/USD daily chart

Crypto prices have fallen over the past three days as markets reacted to the Fed’s interest rate decision and the recent nonfarm payrolls report.

Markets are sold-off across the board with the Dow Jones down over 1,000 points over the past few days.

Many believe this is due to traders taking a risk-free approach as inflationary pressures continue to grip participants with anxiety.

As of this writing, BTC seems to have found a temporary bottom of $35,530 with some hoping that this could be a starting point towards $37,000.


On Saturday, ETH also tried to find some form of price support as prices struggled to move away from a six-week low.

After three consecutive sessions of declines, the world’s second largest cryptocurrency appeared to have found support at $2,660.

This potential support point comes after the price fell to a low of $2,645.34 on Friday after rallying to a high of $2,721.10 since then.

ETH/USD daily chart

This price decline comes as the 14-day RSI also hit a bottom of its own at 39.10, its lowest level since last Saturday.

Bulls will be inspired by what happened on March 16th when we saw a rebound from this current price point, resulting in a price surge of almost $1,000.

However, if this floor does not hold, the bears are likely to seek exits at $2,500.

Do you expect bulls or bears to prevail this weekend? Leave your thoughts in the comments below.

Eliman Damell

Eliman brings a diversified perspective to market analysis, having worked as a broker director, retail educator, and market commentator in the crypto, equities, and forex sectors.

photo credit: Shutterstock, Pixabay, WikiCommons

Disclaimer: This article is for informational purposes only. It is not a direct offer, or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

What's your reaction?
Leave a Comment