Cryptocurrency markets have been in a state of consolidation following a wild rally last week. Bitcoin (BTC) and Ethereum (ETH) are both trading in somewhat tight ranges today, with BTC/USD holding near the $27,765.34 mark, and ETH/USD remaining close to $1,854.27. The market appears to be awaiting today's nonfarm payrolls report from the U.S., as any action from the U.S. dollar could have wide-reaching effects on crypto prices. Ethereum has seen significant uptrends over the past week, reaching a ten-month high of over $1,900, while Bitcoin touched as high as $28,178.30. However, analysts have noted bearish signals in current trading, as the relative strength index (RSI) has moved past the 60.00 support mark, leading to the potential for a downturn in prices. If the NFP data is bearish, momentum could shift even further in favor of the bears. In terms of technicals, Bitcoin's RSI is also on the brink of a downward trend, as the 10-day moving average has almost crossed over with the 25-day. Without bullish action from the U.S. dollar, Ethereum may struggle to keep its gains from last week, and could dip further. Bitcoin is likely to remain range-bound, but could see further losses should enough negative economic news come out of the NFP report. Investors will be watching closely to see how these reports affect the crypto markets.



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