Bitcoin tests key support as BTC faces fourth weekly loss

Bitcoin traded near $77,477 on Friday and briefly fell below its 100-day exponential moving average around $77,814, leaving it set for a fourth consecutive weekly loss since early October. The cryptocurrency was down more than 2.5% for the week, while Ethereum and XRP, two other major cryptocurrencies, had fallen over 4% and 5%; ETH was below $2,215 and XRP under $1.230. The 100-day exponential moving average is now the first resistance level, and the 200-day average at $76,423 is the next support. Bitcoin’s relative strength index, a momentum gauge, was 34, near the conventional oversold threshold of 30.