Bitcoin, Ethereum Technical Analysis: BTC Nears $21,000, ETH Above $1,640 on Saturday

Bitcoin was again within the inexperienced on Saturday, as bulls returned to cryptocurrency markets to begin the weekend. The token moved nearer to a peak of $21,000, rebounding from Friday’s sell-off within the course of. Ethereum was additionally greater in as we speak’s session, climbing by practically 10%.

Bitcoin

Bitcoin (BTC) rebounded from Friday’s sell-off in as we speak’s session, because the token moved nearer to a breakout of $21,000.

Following yesterday’s low of $20,132.50, BTC/USD surged to an intraday excessive of $20,988.39 to begin the weekend.

Today’s transfer sees the world’s largest cryptocurrency hover near its highest stage in practically six weeks.

As a results of as we speak’s transfer, the 14-day relative energy index (RSI) is now nearing a ceiling of its personal.

Price energy has already failed to interrupt out of the aforementioned resistance of 66.00 earlier this week, nonetheless bulls appear set on retesting this level.

Should a breakout happen, we is not going to solely see the token above $21,000, however doubtlessly transferring nearer to $22,000.

Ethereum

Ethereum (ETH) was additionally greater to begin the weekend, as costs rose by practically 20% in as we speak’s session.

ETH/USD raced to a peak of $1,644.28 earlier within the day, which comes after it fell to a backside of $1,494.75 on Friday.

Following as we speak’s rally, the token based by Vitalik Buterin rose to its highest level since September 13.

The transfer got here as costs broke by means of a key resistance level of $1,590, following a failed try earlier within the week.

Although the worth ceiling was damaged, the RSI is now approaching a ceiling of its personal, which may result in elevated uncertainty.

As of writing, ETH/USD is buying and selling at $1,614.21, comparatively decrease than its earlier peak.

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Will we see any additional surges in ETH this weekend? Leave your ideas within the feedback under.