Crypto News SEC Continued to Grab the Headlines Despite Dissent in the Ranks

Technical Analysis

Bitcoin Analysis

BTC held above the trend line. However, BTC remained below the 50-day and 200-day EMA, sending bearish price signals.

Favorable comments from the SEC on the pending BTC-Spot ETFs would support a break above the $26,755 resistance level.

However, adverse news from the ongoing SEC v Ripple and Coinbase cases would see BTC move toward the trend line. A break below the trend line would give the bears a run at the $25,506 support level.

The 14-Daily RSI reading of 48.18 indicates BTC can test the $25,506 support level before entering oversold territory.

Ethereum Analysis

ETH remained below the $1,626 resistance level. The $1,626 resistance level rejected an ETH move toward $1,650. A break above the $1,626 resistance level would bring the 50-day EMA and the $1,746 resistance level into play. However, ETH would need favorable crypto news to support a move toward $1,700.

Failure to break above the $1,626 resistance level would leave the $1,502 support level in view.

The 14-Daily RSI reading of 43.52 indicates ETH can fall to sub-$1,600 before entering oversold territory.