Bitcoin started its weekend trading below the $29,000 level as markets are in the process of reacting to the latest US nonfarm payrolls (NFP) report. 187,000 jobs were added to the economy in July, below the 200,000 market expected. Ethereum, on the other hand, is nearing its lowest level in several weeks.

Bitcoin
Bitcoin (BTC) dropped below the $29,000 level on Saturday as investors continue to evaluate the latest non-farm payroll report. After Friday's high of $29,302, BTC/USD fell to $28,885 in the early hours of today's session. Bitcoin fell below $29,000 for the first time since Tuesday.
Saturday's drop was the result of the relative strength index (RSI) hitting the 42.00 level, a long-term support level. The bears are trying to maintain the current downward momentum and the index is currently hovering just below this level. However, the price has since consolidated and is currently trading above the daily low at $29,022.
Ethereum
Ethereum (ETH) managed to stay above the $1,800 level despite the heavy drop on Saturday. The ETH/USD pair slumped to $1,817 in the early hours of today's session after peaking at $1,847 the previous day.
This drop showed Ethereum approaching Tuesday's low of $1,812, the lowest the cryptocurrency has reached since June 21. The recent pullback resulted from the price strength indicator breaking below the key support level at the 43.00 mark. The power index is hovering at 41.57.
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