Skip to main content

Bitcoin, Ethereum Technical Analysis: ETH Moves Past $1,900 as Traders End Losing Streak

ETH Heads Past $1,900, as Traders End Losing Streak

After six consecutive days trading in the red, ethereum bounced back on Thursday, once again climbing above the $1,900 mark. The move came as bitcoin also edged higher, after falling to a four-week low during Tuesday’s session.

Bitcoin

Bitcoin (BTC) was marginally higher on Thursdays, as the cryptocurrency once again attempted to rebound from recent losses.

Following a low of $29,794.27 on Wednesday, BTC/USD rose to an intraday peak of $30,406.45 earlier in the day.

The move came as bitcoiners continued to move away from Tuesday’s fall below $30,000, which resulted in BTC hitting a four-week low.

Price stabilized as the relative strength index (RSI) found a firm floor at the 49.00 mark. It has now surged to a current reading of 53.60.

Traders are likely now targeting an upcoming ceiling at $30,800, which has historically been the last line of defense before entering the $31,000 zone.

Despite this target, momentum still appears to be bearish, as a result of the recent downwards crossover of the 10-day (red) and 25-day (blue) moving averages.

Ethereum

In addition to bitcoin, ethereum (ETH) rose back above $1,900 in today’s session, ending its own losing streak.

ETH/USD hit a high of $1,927.57 earlier in today’s session, which comes a day after edging to a low of $1,883.07.

Momentum has been largely bearish in the world’s second largest cryptocurrency in recent days, following last week’s rally.

Today’s move is the first day since last Thursday that ethereum has traded in the green, with traders still optimistic about future surges above $2,000.

A ceiling at $1,960 will likely be the main test for ethereum’s bull strength, and should it pass this level, it is highly likely the price will reach $2,000.

Register your email here to get weekly price analysis updates sent to your inbox:

What fundamentals are behind today’s price rebound? Leave your thoughts in the comments below.



from Bitcoin News https://ift.tt/TUVRGDr
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