Bitcoin, Ethereum Technical Analysis: ETH Climbs to Over $1,200 to Start the Weekend

BTC and ETH Analysis

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Categories: Cryptocurrency

ETH moved into the $1,200 area to start the weekend as the price rose for the third consecutive session. Bullish sentiment has been missing from the crypto markets in recent months, although a timely return saw BTC near its highest point this week. Bitcoin Bitcoin entered the green in trading over the weekend, as bulls extended their recent run for the third consecutive session. After the low of $20,794.19 during Fridays session, BTC/USD rose to an intraday peak of $21,520.91 on Saturday.

Todays move was the highest point prices have reached since Tuesday, when bitcoin was trading at $21,732. Ethereum Following some turbulence in the middle of the week, ETH started the weekend trading higher, as bullish sentiment returned. Prices of the world’s second largest crypto token hit a high of $1,238.62 on Saturday, following a low of $1,146.52 yesterday. 

 As discussed yesterday, once the resistance of $1,190 was breached, bulls re-entered with significant pressure. Todays move was the highest point prices have reached since Tuesday, when bitcoin was trading at $21,732.Similar to BTC, Ethereum also faced a resistance point via the 14-day RSI, and we could see a slight decline in upward momentum until it breaks out.

Price trends are great for planning and tracking your investment, but for day trading and short-term profit, you should be able to spot trading opportunities quickly .

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