ETH Bulls Targeting $1,800 This Weekend – Market Updates Bitcoin News

Ethereum rallied to a fresh three-week high to start Saturday trading, however, the gains cooled as the day progressed. The token continues to trade above $1,700, as market sentiment remains upbeat. Bitcoin experienced a similar day, with the token slowly losing ground, after failing to break a key resistance level.


Bitcoin (BTC) continued to trade above $21,000 on Saturday, however yesterday’s bullish momentum cooled slightly.

BTC/USD rose to a high of $21,613.86 earlier in today’s trading session, however the price subsequently dropped to an intraday low of $20,651.06.

The drop came as the token failed to sustain a break out of its resistance point of $21,600, as the bears fought back against the move.

Bitcoin, Ethereum Technical Analysis: ETH Bulls Target $1,800 This Weekend
BTC/USD – Daily Chart

Looking at the chart, the drop comes as the 14-day relative strength index (RSI) seems to collide with its own resistance at 55.40.

As written, bitcoin is currently trading at $21,356.34 as momentum slowly returns, however until the RSI crosses above the aforementioned ceiling we likely won’t see any levels. any more significant increase.

Additionally, the 10-day moving average (red) is currently on top of a crossover with its 25-day moving average (in blue). This could be another catalyst for further price increases.


Ethereum (ETH) was mostly higher at the start of the week, as the token rallied past a resistance of its own.

Saturday saw the world’s second-largest token climb to as high as $1,739.43. This happened when the price broke through the $1,700 ceiling.

There have been some declines since the previous high, with ETH/USD is currently trading at $1,721.15.

Bitcoin, Ethereum Technical Analysis: ETH Bulls Target $1,800 This Weekend
ETH/USD – Daily Chart

Similar to bitcoin, it seems that the bulls chose to close previous positions and secure profits, as market uncertainty increased.

From the chart, it looks like the 14-day RSI has played a part in this volatility, with the index currently tracking at 58.00, near the ceiling of 60.00.

The bulls continue to target $1,800, however to capture the moment, price strength will need to overcome its upcoming hurdle.

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Do you expect market sentiment to drop this weekend? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings an eclectic perspective to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

Image credits: Shutterstock, Pixabay, Wiki Commons

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