Bitcoin, Ethereum Technical Analysis: BTC Climbs Back Above $17K, Hitting 3-Week High

Bitcoin roseate to a three-week precocious connected Jan. 9, arsenic prices surged beyond the $17,000 people to commencement the week. The determination comes days up of the upcoming U.S. ostentation figures, and arsenic traders proceed to respond to Friday’s nonfarm payrolls (NFP). Ethereum was besides higher, rising to a multi-week precocious successful the process.

Bitcoin

Bitcoin (BTC) moved supra the $17,000 level to commencement the week, arsenic markets shifted their absorption to this week’s U.S. ostentation report.

Following a debased of $16,928.18 connected Sunday, BTC/USD surged to a highest of $17,283.72 earlier successful today’s session.

The determination saw BTC ascent to its highest constituent since December 16, erstwhile terms was astatine a precocious of $17,525.

BTC/USD – Daily Chart

Looking astatine the chart, today’s precocious came arsenic the 10-day (red) moving mean yet crossed implicit its 25-day (blue) counterpart.

In summation to this, the 14-day comparative spot scale (RSI) marginally moved past its caller absorption level astatine 60.00.

As of writing, the scale is tracking astatine 60.46, with the adjacent disposable ceiling astatine the 63.00 zone.

Ethereum

Like BTC, ethereum (ETH) besides rallied to a multiple-week precocious connected Monday, with prices climbing supra a caller ceiling astatine $1,300.

ETH/USD raced to an intraday precocious of $1,324.01 earlier successful today’s session, which comes little than 24 hours aft trading astatine a debased of $1,261.95.

Similar to bitcoin, today’s rally pushed ethereum to its highest constituent since mid-December, erstwhile the coin was supra $1,350.

ETH/USD – Daily Chart

As tin beryllium seen from the chart, an upwards crossover of moving averages has besides occurred here, with the RSI gaining momentum arsenic well.

Currently, the scale is tracking astatine 66.81, which is its strongest constituent since October 29, erstwhile ETH was trading upwards of $1,500.

Should bullish sentiment stay passim the week, ethereum volition apt ascent past the $1,400 level.

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Will we spot ethereum widen today’s gains passim the week? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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