Bitcoin, Ethereum Technical Analysis: Bitcoin Momentarily Rebounds, Following Russian Invasion of Ukraine

Following Russia’s penetration of Ukraine, volatility successful bitcoin and ethereum prices intensified, with some falling to one-month lows connected Thursday. Both person since moved distant from these lows truthful acold today, successful what looks similar temporal consolidation.

Bitcoin

As of writing, cryptocurrency markets are up by implicit 7% connected Friday, with bitcoin trading 8% higher heading into the weekend.

This comes pursuing a debased of $34,997.01 yesterday, with BTC/USD hitting an intraday precocious of $38,968.84 earlier successful today’s session.

Friday’s determination sees BTC momentarily rebound, and borderline person to the cardinal $40,000 level, which it hasn’t deed since the opening of the week.

BTC/USD – Daily Chart

Looking astatine the chart, the 14-day RSI has besides tailed disconnected slightly, and present looks to beryllium consolidating beneath the 43.8 resistance.

As agelong arsenic prices stay betwixt the level of $37,240 and ceiling of $39,640, marketplace uncertainty volition apt extend.

However, existent sentiment seems to beryllium much bearish, arsenic the 10-day moving mean continues to inclination downwards.

Ethereum

The terms of ETH was besides marginally higher, arsenic bulls look reluctant to fto the world’s 2nd largest cryptocurrency autumn beneath its semipermanent support.

As of writing, ETH/USD is trading 9.20% higher, aft rising to a highest of $2,689.05, pursuing Thursday’s intraday debased of $2,341.72.

Price spot besides climbed, with the 14-day RSI breaking beyond its caller absorption constituent astatine 39.60, and presently is tracking astatine 40.80.

ETH/USD – Daily Chart

Following the move, ETH present sits somewhat supra a higher enactment of $2,550, a level which has birthed respective bull runs successful the past.

Despite this, traders are apt to stay cautious, arsenic galore fearfulness that Russia’s penetration of Ukraine volition lone worsen, starring to investors taking a risk-off approach.

Do you expect ETH to diminution further heading into the weekend? Leave your thoughts successful the comments below.

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