Bitcoin, Ethereum Technical Analysis: BTC Above $21,000 as ETH Hits Fresh 2-month High

Bitcoin surged to a caller two-month precocious connected Jan. 14, arsenic crypto markets were importantly higher connected Saturday. The world’s largest cryptocurrency jumped supra $21,000, arsenic prices rallied for a sixth consecutive day. Ethereum traded supra $1,500 to commencement the weekend, besides hitting its strongest constituent since November.

Bitcoin

Bitcoin (BTC) roseate for a sixth consecutive league to commencement the weekend, arsenic prices moved supra the $21,000 level.

BTC/USD climbed to a highest of $21,054.38 earlier successful today’s session, which comes aft prices were astatine a bottommost of $18,793.66 connected Friday.

This spike successful terms saw bitcoin adhd arsenic overmuch arsenic 10% to its worth successful the past 24 hours, hitting its strongest constituent since November 5 successful the process.

BTC/USD – Daily Chart

Looking astatine the chart, the rally came arsenic the 14-day comparative spot scale (RSI) continued to surge. It is present tracking astatine 89.22.

Typically, a speechmaking of 70.00 is seen arsenic overbought, and with this print, which is its highest constituent successful 2 years, we are heavy successful carnivore territory.

When terms becomes overbought, galore expect bearish sentiment to grow, arsenic traders statesman to abbreviated the market.

Ethereum

Ethereum (ETH) besides deed a two-month precocious successful today’s session, with terms staying successful the greenish for a seventh consecutive day.

Following a debased of $1,404.82 connected Friday, ETH/USD moved to an intraday precocious of $1,558.25 connected Saturday.

As with bitcoin, this rally sent the world’s 2nd largest cryptocurrency to its highest constituent since November 5.

ETH/USD – Daily Chart

Overall, ethereum is present trading implicit 23% higher successful the past 7 days.

The determination comes arsenic the 10-day (red) moving mean extended a crossover of its 25-day (blue) counterpart.

Despite this bullish momentum to commencement the weekend, galore inactive expect immoderate reversals implicit the adjacent fewer days.

Register your email present to get play terms investigation updates sent to your inbox:

Could we spot ethereum autumn beneath $1,400 this weekend, with traders taking profits? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.