Bitcoin was marginally higher to start the weekend, as bulls were
able to fight through Friday’s volatility. Prices of the world’s largest
token rose above $22,000 earlier in the session, whilst ETH continues to trade above $1,200.
Bitcoin
BTC was trading marginally in the green on Saturday, as prices of the token rose above $22,000 earlier in today’s session.
Following a low of $21,257.45 on Friday, BTC/USD rose to an intraday peak of $22,010.64 to start the weekend.
The move saw bitcoin again attempt to
break out of its resistance level at $22,070, however like in
yesterday’s session, bears have thus far resisted the break.
This continues to be the case as a result of the 14-day RSI trading below a ceiling of its own at the 48.80 level.
However, once we see a surge past
this point, it is likely that an influx of bulls will help price
strength overcome this obstacle.
In the same regard, bears have a
history of recapturing momentum around this zone, so we could see
uncertainty lead prices to consolidation.
Ethereum
ETH started the weekend in consolidation, as prices of the token continued to hover around the $1,200 region on Saturday.
The world’s second-largest
cryptocurrency fell to a floor of $1,200.63 earlier today, after
starting the day trading at a peak of $1,248.01.
As of writing, prices have somewhat risen, with ETH/USD now trading at $1,210.96.
Following an attempted breakout of
its $1,295 ceiling on Friday, price uncertainty has increased, with
bears now pushing the token lower.
So far, this volatility hasn’t sent prices below the $1,200 mark, however should this continue, we might see ETH moving to a floor of $1,150.
source link : https://news.bitcoin.com/bitcoin-ethereum-technical-analysis-btc-eth-consolidate-on-saturday-following-recent-gains/
