BTC, ETH consolidate on Monday, as markets prepare for Christmas break.
Following a low of $16,671.80 on Sunday,Monday’s move saw the world’s largest cryptocurrency rise above a key resistance level of $16,700.Despite this, market sentiment remains volatile, with neither bulls nor bears taking charge of price movement so far today.
As can be seen from the chart, the uncertainty comes as the 14-day relative strength index hovers below a resistance point at the 46.00 mark. The index is currently tracking at 44.16, with a floor of 42.00 seemingly the target for bears. Prices will likely continue to consolidate up until the support or resistance is broken.
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