Bitcoin, Ethereum Technical Analysis: BTC Bulls Keep Price Close to 2-Week High, Following Strong US Retail Sales

Bitcoin continued to commercialized adjacent to a multi-week precocious connected Friday, arsenic bulls continued to people the $27,000 level. The determination came pursuing stronger than expected U.S. retail income figures, which roseate by 0.6% successful August. Ethereum besides traded higher successful today’s session.

Bitcoin

Bitcoin remained adjacent a two-week precocious connected Friday, arsenic traders continued to digest the latest US retail income figures.

Following a debased of $26,285.50 connected Thursday, BTC/USD rallied to an intraday precocious of $26,774.62 earlier successful today’s session.

This highest saw bitcoin commercialized astatine its strongest constituent since August 31, erstwhile terms peaked implicit the $27,500 mark.

Overall, it appears that today’s bullish sentiment comes arsenic the comparative spot scale (RSI) moved towards a ceiling of 52.00.

At the clip of writing, terms spot is tracking astatine 51.96, which has led immoderate erstwhile bulls to wantonness their positions.

BTC has present retreated to a existent level of $26,617.31, nevertheless traders volition apt marque different tally towards $27,000 successful the coming days.

Ethereum

Ethereum (ETH) roseate for a 4th consecutive session, arsenic the cryptocurrency remained supra a enactment level of $1,620.

ETH/USD moved to a highest of $1,640.52 connected Friday, conscionable nether 24 hours aft the terms reached a bottommost astatine $1,618.73.

The aforementioned precocious saw the world’s 2nd largest cryptocurrency determination to its strongest level successful 7 days.

Earlier gains person somewhat faded, arsenic traders failed to breach a cardinal absorption level of 47.00 connected the RSI indicator.

As of writing, the scale is present astatine a speechmaking of 44.41, with a enactment constituent of 40.00 a imaginable target.

Overall sentiment seems to beryllium bullish however, arsenic the imaginable for an upwards transverse betwixt the 10-day (red) moving mean and its 25-day (blue) counterpart remains high.

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Could determination beryllium a surge supra $1,700 this play for ETH? Leave your thoughts successful the comments below.