Bitcoin, Ethereum Technical Analysis: BTC, ETH Begin Weekend Close to Key Resistance Levels

Bitcoin and ethereum began the play trading adjacent to cardinal absorption levels, arsenic crypto markets continued to prolong caller gains. Overall, the planetary cryptocurrency marketplace headdress was marginally higher connected Saturday, arsenic traders prepared for this weekend’s session.

Bitcoin

BTC is presently trading 6% higher than astatine the opening of the week, this coming arsenic prices rallied to multi-week highs.

On Saturday, BTC/USD hovered marginally beneath its absorption of $45,050, arsenic prices roseate to an intraday precocious of $44,999.49.

Following 4 consecutive days of gains, today’s consolidation sees bulls identifying the existent country of uncertainty, and wondering whether to prolong unit oregon unafraid earlier gains.

BTC/USD – Daily Chart

BTC has not genuinely traded supra the existent absorption level since December 29, erstwhile prices were falling from a past precocious of $52,198.

Looking astatine the chart, the 14-day RSI indicator has marginally moved beyond its ain absorption of 62.10, which is simply a flimsy affirmative for bulls.

However, the terms spot is inactive comparatively adjacent to the ceiling, which shows that marketplace uncertainty is inactive rife.

Traders volition apt proceed to hold for confirmation anterior to immoderate further positions.

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Ethereum

ETH was marginally little than Friday’s highest of $3,183.96, with the world’s second-largest cryptocurrency trading 0.43% little arsenic of writing.

Following its breakout of the $3,180 absorption level during yesterday’s session, ETH/USD contiguous fell to a debased of $3,087.49.

This intraday bottommost was abbreviated lived, with prices present backmost supra $3,120 and appearing to beryllium consolidating beneath the ceiling.

ETH/USD – Daily Chart

Price spot successful ethereum is profoundly overbought, with the 14-day RSI indicator tracking astatine its highest level since November 10.

Bulls volition apt inactive people the $3,310 resistance, which has been successful spot since February 10, nevertheless the roadworthy determination seems much uncertain, arsenic bears are apt waiting for a motion to re-enter.

Is determination capable momentum near successful ETH to spot further gains this weekend? Leave your thoughts successful the comments below.

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