Bitcoin, Ethereum Technical Analysis: BTC Rebounds on Friday, Following a Drop Below $19,000

Following a determination beneath $19,000 connected Thursday, BTC was capable to emergence supra $20,000 during today’s trading session. ETH besides was capable to stay supra $1,000, pursuing an effort by bears to propulsion terms nether this level during yesterday’s session.

Bitcoin

Bitcoin was trading marginally higher connected Friday, arsenic markets rebounded pursuing a bearish league connected Thursday.

Despite a heightened level of volatility, the world’s largest crypto token climbed to an intraday highest of $20,632.67 earlier today.

This comes little than 24-hours aft prices fell to a bottommost of $18,729.66, starring BTC/USD beneath its semipermanent level of $18,800.

During the past 3 weeks, determination person been astatine slightest 3 attempted breakouts from this point, nevertheless bulls person mostly managed to stifle these attempts.

Looking specifically astatine the RSI indicator connected the chart, spot is tracking beneath enactment astatine 30, nevertheless if a existent rebound were to occur, bulls would request to reenter this level.

Prices person since declined aft earlier gains, and arsenic of writing, bitcoin is trading astatine $19,194.26, which is marginally higher than yesterday’s low.

Ethereum

Following a autumn to an 11-day debased connected Thursday, ETH was besides higher successful today’s league arsenic prices continued to enactment supra $1,000.

Ethereum bears attempted to determination beneath this constituent yesterday, nevertheless bulls were capable to forestall this from happening, for now.

As of writing, ETH/USD has truthful acold risen to an intraday highest of $1,100.22 successful today’s session, pursuing a driblet to $1,009.09 connected Thursday.

Yesterday’s driblet came arsenic comparative spot successful ETH fell beneath a caller enactment of 35.85, falling to arsenic debased arsenic 32.

This driblet successful the RSI has since slowed, with prices present appearing to consolidate adjacent to a level astatine $1,050.

The past clip we were trading astir this enactment point, prices went connected rally for 4 consecutive sessions.

Will bulls beryllium capable to spell connected a akin run, pursuing the latest diminution successful ETH? Leave your thoughts successful the comments below.