Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,300 to Start the Weekend

Ethereum was as soon as once more buying and selling above $1,300, as cryptocurrency costs rose to begin the weekend. Markets have been again within the inexperienced on Saturday following a unstable week, which got here because the U.S. greenback continued to strengthen. Bitcoin additionally surged increased, transferring again above $19,000.

Bitcoin

Bitcoin (BTC) rose again above $19,000 on Saturday, as cryptocurrency markets climbed increased to begin the weekend.

Earlier in at this time’s session BTC/USD rallied to an intraday excessive of $19,237.39, which comes lower than a day after hitting a low of $18,770.97.

Today’s peak sees the token transfer away from its current assist level of $18,900, following a false breakout in yesterday’s session.

Looking on the chart, the rebound in value has additionally pushed the 14-day relative energy index (RSI) increased, and it’s now transferring in direction of a resistance level of its personal.

As of writing, the index is monitoring on the 46.35 level, which is marginally under a resistance stage of 48.00.

Should we see this ceiling damaged, then BTC bulls could possibly be one step nearer to recapturing the $20,000 mark.

Ethereum

Ethereum was additionally buying and selling increased to begin the weekend, because the token surged following a turbulent week of buying and selling.

Following a transfer to a low of $1,260.67 on Friday, ETH/USD was again above $1,300 on Saturday, hitting a peak of $1,306.71 within the course of.

Like with bitcoin above, at this time’s surge noticed ethereum bounce from a key assist of $1,270, and it’s now on the right track to hit a resistance stage.

The aforementioned ceiling is the $1,330 level, which hasn’t been hit since Tuesday, when bearish strain moved the worth under this level.

Bullish sentiment appears to be returning, nevertheless, with the RSI now monitoring at 45.90, which is marginally under a ceiling of 46.00.

If momentum stays upward-focused we’ll probably see this level damaged this weekend, and the token as soon as once more above $1,330.

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