Bitcoin, Ethereum Technical Analysis: ETH Nears $1,230 Resistance, Following Strong US GDP Data

Ethereum edged person to a cardinal absorption level of $1,230 connected Dec. 23, arsenic markets continued to respond to amended than expected U.S. GDP data. Gross home merchandise successful the United States was revised higher to 3.2%, amended than the 2.9% expected. Bitcoin mostly consolidated successful today’s session, with prices trading adjacent the $16,800 mark.

Bitcoin

Bitcoin (BTC) was erstwhile again successful consolidation connected Friday, arsenic markets continued to respond to the latest U.S. Q3 GDP figures.

Following a debased of $16,592.41 connected Thursday, BTC/USD was marginally higher, with prices rising to a highest of $16,880.87 successful today’s session.

The surge successful terms pushed BTC supra a cardinal absorption constituent of $16,800, arsenic bulls erstwhile again attempted to recapture the $17,000 mark.

BTC/USD – Daily Chart

As tin beryllium seen from the chart, caller terms uncertainty comes arsenic the 14-day comparative spot scale (RSI) remains adjacent to a level astatine 45.00.

Sentiment besides seems uncertain pursuing a caller crossover betwixt the reddish 10-day moving average, and its 25-day (blue) counterpart.

If this downward inclination continues, we could spot BTC trading adjacent $16,000 during the Christmas weekend.

Ethereum

Ethereum (ETH) was marginally higher to extremity the week, arsenic prices moved person to a cardinal absorption level earlier today.

ETH/USD raced to an intraday highest of $1,224.21 successful Friday’s session, little than 24 hours aft hovering astatine $1,187.13.

Today’s determination sees ETH bulls erstwhile again effort to interruption retired of the semipermanent absorption level of $1,230.

ETH/USD – Daily Chart

Looking astatine the chart, the 14-day RSI is present rallying supra a absorption constituent astatine 47.00, and tracking astatine 47.92, with the adjacent disposable ceiling astatine 52.00

In bid for bulls to proceed to propulsion ethereum higher, terms spot volition apt request to surge towards this upcoming absorption of 52.00.

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Do you expect ethereum to beryllium supra $1,230 earlier Christmas? Leave your thoughts successful the comments below.

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