BTC and ETH Test Lower Support

Overnight, BTC and the rest of the cryptocurrency market took a dip to test lower ranges of support. The MFI is testing areas of support while momentum on the 2 hr candle chart looks as if it could swing down slightly lower. BTC is testing a month long line of support currently.

Ethereum also took a dip to test lower areas of support overnight following BTC’s price action. The MACD may be preparing to swing downwards, with the MFI looking fairly neutral on the shorter term. ETH’s price action in the coming days will likely be significantly influenced by Bitcoin’s.