On Tuesday, Bitcoin dipped below the $26,000 mark as the cryptocurrency market remained gloomy. After recent falls, the price has dropped further despite being oversold. The worldwide market capitalization is currently down by 0.42%.

Bitcoin

Bitcoin As the market's overall attitude remained gloomy, Bitcoin fell just shy of $26,000 during today's session.

Tuesday saw a peak of $26,220.20 for BTC/USD before dropping to an intraday low of $25,846.09.

The largest cryptocurrency in the world is now trading at $26,088.64 after a recent price recovery.

Daily Chart for BTC/USD

The drop occurred while the relative strength index (RSI) lingered near a support level of 20.00.

As of this writing, the precise reading is 20.90, which is still quite low.

BTC may end up close to the $28,000 mark if bulls continue to push prices upward towards this level.

Ethereum (ETH) On Tuesday, as price stabilization persisted, ETH remained in close proximity to a support level of its own.

Following a week-opening top of $1,679.76, ETH/USD fell to an intraday low of $1,651.96.

Since falling to a low of $1,540 last Thursday, the price of ethereum has generally fluctuated around a critical price floor of $1,650.

USD/ETH Daily Chart

The RSI is currently tracking at 24.82, having dropped below 20.00 during the weekend. In recent days, it has been trending slightly upward.

There is immediate resistance at 27.00, and should this level be broken, there is a significant likelihood that ETH will once again trade around $1,700.