Bitcoin, Ethereum Technical Analysis: ETH Pushes Towards $1,900 to Start the Weekend

Ethereum moved closer to the $1,900 level on Saturday, as cryptocurrency markets made marginal gains. At the time of analysis, the global market capitalization has risen modestly by 0.32%, mirroring the effects of Friday’s U.S. consumer sentiment report, which fell short of expectations. Contrary to the projected sentiment of 72.6, the actual figure hovered at 71.6. Concurrently, bitcoin witnessed an uptick in its price.

Bitcoin

Bitcoin (BTC) moved above a key support point of $29,200 on Saturday, as cryptocurrency markets continued to consolidate.

Following a low of $29,186.47 on Friday, BTC/USD jumped to an intraday peak at $29,521.51 earlier in today’s session.

BTC has mostly consolidated this past week, as traders attempted to find a firm floor, after recent selloffs.

Today’s consolidation comes as the relative strength index (RSI) appeared to have found its own floor at the 43.00 mark.

At the time of writing this, the index is now tracking at 43.95, and appears to be heading for a ceiling at 48.00.

In the event price strength reaches this point, there is a good chance BTC could be trading above $29,800.

Ethereum

After a volatile few days, ethereum (ETH) made strides towards the $1,900 level to start the weekend.

ETH/USD peaked at $1,881.46 earlier in the day, which comes following Saturday’s bottom at the $1,865.45 mark.

Ethereum has failed to climb above the $1,900 point since last Sunday, and has mostly been in a downtrend since a move over $2,000 earlier in the month.

The RSI is on the cusp of breaking out of a resistance level at 49.00, which could help tempt previous bulls to reenter the market.

Should this occur, the 10-day (red) moving average might also change its current course, and potentially move back over its 25-day (blue) counterpart.

Do you expect ethereum to rally over $2,000 in August? Leave your thoughts in the comments below.

from Bitcoin News https://ift.tt/dQqtcv6

Comments

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

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

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

breaking news this december get instant daily breaking news

Search This Blog