Skip to main content

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

ETH moved into the $1,200 region to start the weekend, as prices rose for a third consecutive session. Bullish sentiment has been missing from crypto markets in recent months, however the timely return also saw BTC near its highest point this week.

Bitcoin

Bitcoin entered the weekend trading in the green, as bulls extended their recent run for a third consecutive session.

Following a low of $20,794.19 during Friday’s session, BTC/USD rose to an intraday peak of $21,520.91 on Saturday.

Today’s move was the highest point prices have reached since Tuesday, when bitcoin was trading at $21,732.

This looks to be the next target for bulls, who will need to overcome this hurdle in order to reach their next destination at $22,000.

Looking at the chart, there is another hurdle they must first overcome, and that is the 36.45 ceiling on the RSI.

Should we see this point broken, then we might see bullish momentum also increase, leading prices to their respective targets.

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.

As of writing, ETH is at its highest point in nine days, and is up nearly 10% in the last seven days of trading.

Similar to BTC, ethereum has also just encountered a resistance point via the 14-day RSI, and until this is broken, we may see a slight drop in upwards momentum.

Could we see ETH move to $1,300 this weekend? Leave your thoughts in the comments below.



from Bitcoin News https://ift.tt/LRaQCO3
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more