BTC and ETH Attempt a Recovery

Neither this nor any other post on cryptofal.com should be considered financial advice. It is not.

BTC is currently attempting to test a line of resistance once more. The MFI and the MACD are starting to swing up more definitively. It’s important to keep in mind that volume is dipping as it attempts to trend upwards, so it may struggle breaking through the resistance and above unless there is an influx of buy-side pressure.

The overall cryptocurrency market cap is around $2.26 trillion and the overall volume is down to $92 billion.

Ethereum is also making an attempt at testing upwards. The MACD and the MFI are attempting to make a more definitive swing upwards, however it should noted that volume, like the rest of the cryptocurrency market, is decreasing on ETH as well. This puts it in a similar boat to BTC, if it doesn’t see an influx of buy-side pressure, ETH may struggle as it attempts to test resistance.