Bitcoin, Ethereum Technical Analysis: BTC, ETH Surge to Start the Weekend, Following Friday’s Payrolls

Bitcoin moved person to the $17,000 level to commencement the weekend, arsenic traders continued to respond to the latest U.S. nonfarm payrolls data. December’s payrolls came successful astatine 223,000, which was amended than the 200,000 markets had expected. Ethereum was besides higher connected Saturday, with prices nearing a three-week high.

Bitcoin

Bitcoin (BTC) moved person to the $17,000 level connected Saturday, arsenic traders continued to respond to the latest U.S. nonfarm payrolls (NFP).

Last month’s NFP numbers came successful astatine 223,000, which is 23,000 higher than expected, and this was successful a period wherever the Federal Reserve accrued involvement rates by little than successful erstwhile months.

In effect to this, BTC/USD surged to a highest of $16,991.99 to commencement the weekend, hovering adjacent to a three-week precocious successful the process.

BTC/USD – Daily Chart

As tin beryllium seen from the chart, today’s rally came arsenic the 10-day (red) moving mean closed successful connected a crossover with its 25-day (blue) counterpart.

This, arsenic the 14-day comparative spot scale (RSI) besides rallied, climbing supra a cardinal absorption constituent astatine 50.00

Currently, the scale is tracking astatine 52.24, with the adjacent disposable ceiling astatine the 55.00 mark, which is apt wherever bulls are targeting.

Ethereum

In summation to BTC, ethereum (ETH) besides moved higher to commencement the weekend, with prices moving gradually person to $1,300.

Following a debased of $1,240.95, ETH/USD raced to an intraday precocious of $1,273.22, which is its highest constituent since December 17.

Today’s determination comes arsenic an upwards crossover of moving averages has precocious occurred, with the 10-day (red) inclination enactment moving higher versus the 25-day (blue) line.

ETH/USD – Daily Chart

Typically specified a determination is simply a motion of existent and aboriginal bullish momentum, and this could apt tempt much bulls to re-enter the market.

The adjacent people volition undoubtedly beryllium the aforementioned $1,300 ceiling, which volition apt beryllium deed erstwhile the RSI climbs past its existent ceiling astatine 59.00.

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Do you expect ethereum to ascent supra $1,300 this weekend? Leave your thoughts successful the comments below.

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