Cryptocurrency markets paused to consolidate on Friday as traders await the release of the latest US Consumer Confidence figures. A move to a 5-month high on Thursday was reversed as the price of Bitcoin dropped back below $23,000, and Ethereum also saw its price fall below $1,600.
Bitcoin
Bitcoin (BTC) dropped to its lowest point in 24 hours, trading below $22,654.59, after its peak of $23,215.00 the previous day.
The decline comes ahead of the US Consumer Confidence report, which is expected to come in at 64.6.
The Relative Strength Index (RSI) is also closing in on a low of 78.00, which could lead to a shift in momentum.
The 10-day moving average (purple line) is continuing its upward trajectory, but if the index drops below 78.00, it could reverse direction. As of now, the index stands at 79.64, and BTC/USD is trading at $22,965.60.
Ethereum
Ethereum (ETH) saw a slight change in sentiment with prices trading below $1,600 in this session.
After reaching a peak of $1,619.45 on Thursday, the intraday low of $1.565.25 was reached earlier in the day.
The decrease in value followed ETH/USD failing to hold above the $1,640 resistance level on Wednesday.
