Bitcoin, Ethereum Technical Analysis: Ethereum Moves Past $3,000 to Start the Weekend 

Following a week of consolidation, bitcoin and ethereum prices some rallied past cardinal absorption levels to commencement the weekend. Bitcoin moved beyond $40,000, with ethereum climbing implicit the $3,000 mark.

Bitcoin

Cryptocurrencies were higher to commencement the weekend, arsenic markets look to person moved past caller bearish sentiment.

The world’s largest cryptocurrency bitcoin (BTC), became adjacent much invaluable connected Saturday, arsenic it broke retired of its $40,000 absorption level.

BTC/USD deed an intraday precocious of $41,729.43 during Saturday’s session, arsenic markets proceed to respond to yesterday’s Non-farm payrolls report.

The determination came pursuing bitcoin’s 14-day RSI yet moving past its caller hurdle of 40, which was held for astir of the year.

As of writing, the RSI is presently tracking astatine 55.67, which is its highest level since November 15, erstwhile prices were trading supra $60,000.

BTC/USD – Daily Chart

The determination has brought the 10-day and 25-day moving averages person together, however, a transverse inactive hasn’t transpired.

If this does yet happen, we could beryllium looking astatine BTC trading nearer to $50,000.

Ethereum

Ethereum (ETH) roseate for the 3rd consecutive session, arsenic the world’s second-largest cryptocurrency surged to a 2-week high.

ETH/USD climbed to a precocious of $3,032.66 connected Saturday, aft rising by arsenic overmuch arsenic 7% successful the past 24-hours, and astir 20% successful the past week.

As of writing, ETH has recovered absorption astatine the 54.40 RSI level, which has coincided with the bullish momentum slowing astatine a ceiling of $3,015.

ETH/USD – Daily Chart

Heading deeper into the weekend, traders volition apt beryllium viewing the moving averages, to spot if some short, and mid-term momentum could plaything further upward.

What could beryllium the adjacent absorption level for ETH/USD? Leave your thoughts successful the comments below.

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