Bitcoin, Ethereum Technical Analysis: BTC Nears $17,000 Ahead of Christmas Day

Bitcoin roseate person to the $17,000 level connected Saturday, contempt crypto markets mostly consolidating to commencement the week. The planetary cryptocurrency marketplace headdress is down 0.32% arsenic of writing. Ethereum was besides higher earlier successful the day, with prices nearing the $1,230 level.

Bitcoin

Bitcoin (BTC) remained nether the $17,000 level to commencement the weekend, arsenic prices continued to consolidate contempt earlier gains.

BTC/USD deed a precocious of $16,905.22 earlier successful today’s session, which comes a time aft terms was astatine a bottom, astatine the $16,793.53 mark.

The determination saw the world’s largest cryptocurrency proceed to commercialized supra a cardinal constituent of enactment astatine $16,800.

BTC/USD – Daily Chart

As tin beryllium seen from the chart, earlier gains person somewhat eased, arsenic the 14-day comparative spot scale (RSI) failed to interruption supra a ceiling astatine 48.00.

The scale is presently trading astatine 46.72, with bulls inactive attempting to propulsion past the aforementioned constituent of resistance.

On the different hand, should terms spot diminution beneath a level astatine 45.00, bitcoin volition apt determination towards the $16,000 level.

Ethereum

In summation to BTC, ethereum (ETH) besides consolidated to commencement the weekend, with prices edging person to a cardinal absorption level.

Following a debased of $1,216.34 connected Friday, ETH/USD raced to a highest of $1,227.00 earlier successful today’s session.

As a effect of today’s move, ethereum erstwhile again attempted to interruption retired of a cardinal ceiling astatine the $1,230 level.

ETH/USD – Daily Chart

Looking astatine the chart, the breakout did not occur, chiefly owed to the RSI besides remaining beneath a ceiling of its ain astatine 47.50.

As of writing, the scale is tracking astatine 47.12, with momentum appearing to beryllium bearish arsenic a effect of the absorption of moving averages (MA).

The 10-day (red) MA extended its downward transverse with its 25-day (blue) counterpart, which typically is simply a motion of terms declines.

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Could marketplace sentiment alteration up of Christmas Day? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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