Cryptocurrency prices have been in decline this Thursday, with Bitcoin close to its 10-day low. Ethereum has also dropped significantly, with the token falling to $1,200.
Bitcoin
Bitcoin (BTC) has been trading in the red Thursday, with prices falling below the $17,000 mark.
BTC/USD traded at $16,750.56 earlier in the day, with the largest cryptocurrency in the world close to its lowest point since late November.
The move brought Bitcoin closer to the $16,700 support point.
The 14-day RSI is now at 45.50 after failing to break through the 50.00 level earlier in the week.
If the downward trend continues, the next point of support could be the 43.000 mark.
The market bears will be watching for this bottom to be broken, which could trigger a move lower than $16,000.
Ethereum
Ethereum (ETH) has also been down today, with prices diminishing for the second consecutive day.
Following a maximum of $1,252.30 Wednesday, ETH/USD dropped to $1,224.45 earlier on in the day.
The price decline pushed Ethereum below the recent support level at $1,230, with prices falling to a nine-day low.
