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Bitcoin BTC/USD was dropping byabout 2.5% on Friday, in tandem with the S&P 500, which was retracing after data released by the University of Michigan indicated growing expectations in May that inflation will remain stubborn.

Ethereum ETH/USD and Dogecoin DOGE/USD were also trading slightly down but on lower-than-average volume, which indicates the local bottom may be in.

Traders and investors can watch the crypto sector, specifically Bitcoin and Ethereum, over the weekend to gather information on how the stock market will open on Monday. Historically, when Bitcoin and Ethereum behave bullishly on Saturday and Sunday, the stock market often opens higher.

Heres a look at the three cryptos'charts heading into the weekend.

The Ethereum Chart: Ethereum entered a downtrend on May 6 and printed a lower high on Wednesday at $1,888 and a lower low at the $1,810 mark on May 8. On Friday, Ethereum was working to print a hammer candlestick, which could indicate the next lower low has occurred and the crypto will trade higher on Satuday.

The Dogecoin Chart: Dogecoin confirmed a new downtrend on Wednesday, when the crypto printed a lower high of $0.074 and the most recent confirmed lower low was formed at the 7-cent mark on Monday.

Read Next:Ethereum Enters Uncharted Territory With Lockup Skyrocketing

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Bitcoin, Ethereum And Dogecoin Trend Lower Into The Weekend, But 2 Of The Cryptos Look Set To Bounce - Benzinga