Bitcoin, Ethereum Technical Analysis: ETH Surges Above $1,200 to Start the Weekend

Ethereum was backmost supra $1,200 connected Saturday, arsenic bullish sentiment returned to cryptocurrency markets to commencement the weekend. Following caller stints successful the red, the planetary crypto marketplace headdress is trading 1.91% higher arsenic of writing. Bitcoin was besides backmost successful the green.

Bitcoin

Bitcoin (BTC) was marginally higher to commencement the weekend, arsenic prices moved person to a cardinal absorption level.

Following a debased of $16,456.65 connected Friday, BTC/USD roseate to an intraday precocious of $16,666.86 earlier successful today’s session.

This determination saw the world’s largest cryptocurrency determination person to a ceiling of $16,800, which it past deed connected November 18.

BTC/USD – Daily Chart

Looking astatine the chart, Saturday’s surge sent the token to a ceiling connected the comparative spot scale (RSI) of 41.00.

As of writing, the scale is tracking astatine 40.00, pursuing an earlier failed breakout attempt, which has since sent BTC lower.

Currently bitcoin is trading astatine $16,614.71, arsenic earlier bulls moved to liquidate their positions.

Ethereum

Ethereum (ETH) was implicit 3% higher connected Saturday, with the token climbing backmost supra its $1,200 level.

ETH/USD raced to a highest of $1,222.81 to commencement the weekend, little than 24 hours aft hitting a bottommost of $1,184.87.

Today’s rally comes arsenic the token extended its breakout of a cardinal absorption level astatine the $1,180 mark.

ETH/USD – Daily Chart

As tin beryllium seen from the chart, terms spot besides broke retired of a ceiling, with the RSI moving past a hurdle astatine the 43.50 point.

In summation to this, the 10-day (red) moving mean has present afloat shifted momentum, with the inclination enactment nary longer downward facing.

Bulls are apt waiting for further shifts successful momentum earlier adding connected to the bullish pressure.

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

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