Bitcoin, Ethereum Technical Analysis: BTC Consolidates Heading Into Easter Weekend

Following beardown gains towards the extremity of yesterday’s session, BTC consolidated today, arsenic markets hole for Easter weekend. Bitcoin’s terms surged precocious connected Wednesday, hitting a cardinal absorption constituent successful the process. ETH besides deed a ceiling during the session.

Bitcoin

Following a precocious surge towards a cardinal absorption level of $41,500 connected Wednesday, BTC was marginally lower, arsenic traders prepared for the agelong Easter weekend.

BTC/USD roseate to an intraday precocious of $41,451.48 precocious connected Wednesday, nevertheless this absorption constituent held firm, sending prices little today.

Earlier today, BTC fell to an intraday debased of $39,714.69, nevertheless it has since climbed, and is presently trading astir $41,031.26, which is up astir 3% from the erstwhile bottom.

BTC/USD – Daily Chart

BTC has dropped by astir $10,000 from its highest of $48,220 lone 2 weeks ago, which was its highest level successful implicit 4 months.

However, aft weeks of declines, it appears arsenic though we whitethorn person recovered a unchangeable floor, which was astatine $39,300, with bulls present looking to erstwhile again nonstop prices higher.

Price spot inactive trends towards the absorption of uncertainty however, arsenic it continues to hover beneath its ceiling of 43.

Once this level is yet breached, we could spot much bulls re-enter.

Ethereum

Thursday besides saw ETH hover beneath its ain absorption level, arsenic prices continued to determination distant from a caller level of $2,950.

ETH/USD was trading adjacent to its ceiling of $3,145 during today’s session, arsenic determination appears to beryllium a gradual build-up of bullish pressure.

This momentum saw ETH deed an intraday precocious of $3,139.93, which is its highest constituent since the commencement of the week.

ETH/USD – Daily Chart

As a effect of this rally, the 14-day RSI is present adjacent its absorption of 49.6, portion tracking astatine 47.5, and unless we spot this threshold broken, we whitethorn spot terms autumn backmost beneath $3,000.

This is particularly the lawsuit owed to the moving mean crossover which has precocious occurred, which is simply a awesome of further bearish pressure.

Do you expect to spot immoderate notable moves this Easter weekend? Leave your thoughts successful the comments below.

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