BTC ETH Price Prediction: The fall trend of Bitcoin and Ethereum, BTC and ETH is slowing down, focus shifts to recovery:

Bitcoin price hovered around $107,600 on Monday, after a 4.62% fall last week.
The price of Ethereum remains above its daily support level of $4,232, looking forward to a potential recovery.

Bitcoin (BTC) and Ethereum (ETH) started the new week with caution after a significant fall last week. BTC is hovering around $107,600, while ETH is defending its key support level. Although market conditions remain cautious, traders' focus is shifting towards the potential rebound of major cryptocurrencies this week.

If the daily support level holds, Bitcoin may rebound.
The price of Bitcoin was rejected by the previously broken upward trend line on August 23, and fell by 7.43% on Sunday. As of Monday when this article was written, it continued to decline, trading at around $107,600, close to its key daily support level of $105,573.

If Bitcoin finds support near its daily level of $105,573, which roughly coincides with the 61.8% Fibonacci retracement level of $105,386, it may bounce back to its daily resistance level of $116,000.

However, the relative strength index ( RSI ) reading is 36, below the neutral level of 50, and there is still room for adjustment as it approaches the oversold condition. To maintain the rebound, the RSI must bounce back from the oversold state and rise above the neutral level.

However, if Bitcoin fails to find support at the $105,573 level, it may extend the correction to its 200-day exponential moving average (EMA), located at $104,086.

Ethereum found support at around $4,232 and resumed its rise.
The price of Ethereum reached a new all-time high of $4,956 on August 24, but failed to maintain its upward momentum, falling over 9% by Friday. However, on Saturday it retested and found support around the daily level of $4,232, and slightly rebounded the next day. As of writing, it is hovering around $4,390 on Monday.

If the daily level at $4,232 continues to serve as support, Ether may extend the rebound to the next daily resistance level at $4,488. A successful close above this level may expand the gains to its historical high of $4,956.

The RSI reading on the daily chart is 52, approaching the neutral level of 50, indicating hesitation among traders. At the same time, the MACD showed a bearish crossover last week, suggesting a continuation of the downward trend.

However, if ETH faces a correction and closes below the daily support level of $4,232, it may continue to fall and retest its 50-day exponential moving average of $4,001.

The relative strength index (RSI) of Bitcoin is 37, below the neutral level of 50, and there is still room for correction as it approaches oversold conditions. To maintain a recovery bounce, the RSI must rebound from oversold conditions and rise above the neutral level.