Money

ETH Back Above $1,300 to Start the Weekend – Market Updates Bitcoin News


Ethereum was once again trading above $1,300, as the cryptocurrency price rallied at the start of the weekend. Markets are back in the green on Saturday after a volatile week, which came as the US dollar continued to strengthen. Bitcoin also edged higher, back above $19,000.

Bitcoin

Bitcoin (BTC) rallied back above $19,000 on Saturday, as the crypto market edged higher to start the weekend.

Earlier in today’s session BTC/USD rose to an intraday high of $19,237.39, coming less than a day after hitting a low of $18,770.97.

Today’s high saw the token move away from its recent support point of $18,900, following a false breakout during yesterday’s trading session.

Bitcoin, Ethereum Technical Analysis: ETH back above $1,300 to start the weekend
BTC/USD – Daily Chart

Looking at the chart, the price rally has also pushed the 14-day relative strength index (RSI) higher and it is now approaching a resistance point of its own.

As of writing, the index is tracking at 46.35 points, slightly lower than the resistance level of 48.00.

If we see this ceiling broken, then BTC The bulls may be one step closer to reclaiming the $20,000 mark.

Ethereum

Ethereum also traded higher at the start of the weekend, when the token rallied after a volatile trading week.

After dropping to a low of $1,260.67 on Friday, ETH/USD was back above $1,300 on Saturday, hitting a high of $1,306.71 in the process.

Like with bitcoin above, today’s rise has seen ethereum bounce off the critical support of $1,270 and now of course hit resistance.

Bitcoin, Ethereum Technical Analysis: ETH back above $1,300 to start the weekend
ETH/USD – Daily Chart

The aforementioned ceiling of $1,330, was not touched on Tuesday, when bearish pressure moved the price below this point.

However, bullish sentiment seems to be returning with the RSI currently tracking at 45.90, slightly below the 46.00 ceiling.

If momentum remains focused on the upside, we will likely see this point broken later this week and the token once again above $1,330.

Sign up for your email here to receive weekly price analysis updates delivered to your inbox:

Where do you expect to see ether land this weekend? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings an eclectic perspective to market analysis, formerly a brokerage director and retail trading educator. Currently, he works as a commentator on various asset classes, including Crypto, Stocks and FX.




Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This newspaper only gives true information. It is not a direct offer or solicitation to buy or sell, or a recommendation or endorsement for any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the Company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or materials. goods or services mentioned in this article.

kignews

Kig News: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button