DeFi project Popsicle’s ICE token triples in value as controversial Wonderland founder returns. Miner Core Scientific files for bankruptcy protection and expects support from some debt holders. $BTC held steady at $16,780. _jocelynyang_ reports
Crypto Market Analysis: Bitcoin and Ether’s Flat Trajectory to Continue, Technical Indicators SuggestMomentum for both BTC and ETH remains in neutral territory, using the Relative Strength Indicator as a proxy for momentum. BTC’s current RSI is approximately 49.06 – a very middling level. RSI is a technical indicator that ranges from 1 to 100. Readings over 70 imply that an asset is potentially overbought, while readings under 30 imply that an asset is possibly oversold.
Searching BTC data back to 2015, and filtering for RSI levels between 49 and 50 shows 61 occurrences with an average gain of 2.2%, 30 days after the fact. For ETH, filtering for RSI levels between 47 and 49, showed 43 occurrences since 2017, with an average 30-day gain of 6.7%. Applying those performance figures to current prices, results in prices of $17,144 for bitcoin and $1,291 for ether. This is far from earth-shattering, given where both have traded in the past. The results should not be viewed as predictive but can provide context as to where investors think prices may wind up.
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