Bitcoin, Ethereum Technical Analysis: BTC, ETH Rebound on Friday, Following Volatile Week of Trading

Bitcoin was backmost successful the greenish connected Friday, with prices erstwhile again moving supra the $17,000 level. Cryptocurrencies were mostly higher successful today’s session, arsenic prices rebounded from caller losses. Ethereum besides surged earlier successful the day, climbing person to the $1,300 level.

Bitcoin

Bitcoin (BTC) climbed higher successful today’s session, with the coin surging backmost supra the $17,000 level.

Following a debased of $16,788.78 connected Thursday, BTC/USD raced to an intraday precocious of $17,274.60 earlier successful the day.

The determination saw bitcoin rally beyond its absorption level astatine $17,200, hitting a five-day precocious successful the process.

BTC/USD – Daily Chart

Looking astatine the chart, BTC has since retreated from earlier highs, arsenic bullish momentum faded soon aft the breakout.

As of writing, the comparative spot scale (RSI) is present tracking astatine 50.93, which is marginally beneath a ceiling astatine 52.00.

Should the scale proceed to determination higher, past the adjacent people for bulls volition apt beryllium the $17,600 point.

Ethereum

In summation to bitcoin, ethereum (ETH) besides edged higher successful today’s session, with prices rebounding from caller losses.

ETH/USD moved to a highest of $1,286.23 connected Friday, little than 24 hours aft trading astatine a debased of $1,227.50 during Thursday’s session.

As a effect of today’s move, the coin neared a cardinal absorption level of $1,305, rising to its highest constituent since Monday successful the process.

ETH/USD – Daily Chart

Currently, it appears arsenic though ethereum bulls are targeting a determination beyond the $1,300 mark, nevertheless a ceiling connected the RSI seems to beryllium successful the way.

As of writing, the scale is tracking astatine 52.00, which has besides been a cardinal constituent of absorption successful the past.

Bulls would request to flooded this hurdle first, successful bid to nonstop prices towards the targeted $1,300 level.

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What has been down today’s rebound successful cryptocurrency prices? Leave your thoughts successful the comments below.

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