Bitcoin closed the trading day on Sunday, October 24 at $60,963 after making a weekly low during the intraday session by hitting $59,400.
Some of the leading cryptocurrency traders and analysts shared an opinion for a potential bull trap scenario where late “longs” got trapped at the all-time high breakout which is the main reason behind the recent pullback.
The coin lost 7 percent of its valuation for the two days combined but managed to find stability at the 21-day Exponential Moving Average on the daily chart.
The Ethereum Project token ETH ended the last seven-day period right above the September 2021 high – $4,035 after hitting the horizontal support three days in a row.
On Monday, October 25, the ether climbed up to $4,218 adding 3.3 percent.
The third day of the workweek came with high volatility as the ether was moving up and down the $4,300 and $3,900 before closing with a 5 percent loss at $3,918.
AMONG OUR MAIN OBJECTIVES IS TO POPULARIZE THE USE OF CRYPTOCURRENCY, EXPLANATION WHAT CRYPTOCURRENCIES ARE AND HOW THEY PLAY THE ROLE OF PAYMENT INSTRUMENT AND MEANS FOR SAFE STORING AND EARNINGS, AS WELL AS PROVIDING THE NECESSARY KNOWLEDGE, EDUCATIONAL ARTICLES, INFORMATION ABOUT UPCOMING EVENTS AND CONFERENCES DEDICATED TO THE DEVELOPMENT OF CRYPTOCURRENCY.