Following a rise to a high beyond $41,700 earlier this week, bitcoin’s price has fallen for two consecutive sessions. ETH remains above $2,800, while BTC trades above $40,000 despite this.
Bitcoin
BTC fell for its second consecutive session on Friday, as the world’s largest cryptocurrency has lost some momentum, following Wednesday’s Fed decision.
Yesterday’s bitcoin trading was at its highest point of $41,102.23. Prices have since fallen to $40.302.40.
This drop means that BTC/USD is 1.66% lower than Thursday’s high, and comes as prices have fallen back below long-term resistance.
The current ceiling of $40,600 was broken today. This enticed bears further to make a sale due to historical activity that occurred there before.
As you can see, some bulls have liquidated their positions due to the presence of bearish candles in the middle on March 4, and 10.
Despite these changes, the 14-day RSI remains at 50. That is one indicator that price strength is slightly trending upward.
Ethereum
ETH was traded mostly above $2800 Friday as the price of ETH continued to hover around $2850.
Following Thursday’s low of $2,774.86, ETH/USD hit a peak of $2,826.16 during today’s session, as moving averages prepared for an upwards cross.
The chart shows that the 10-day moving average has finally collided with the 25-day, and that the short-term average is set to surpass the mid-term.
Despite volatility in recent prices, ETH’s price has risen an average of 7% for the last seven trading days. Moving averages could extend this trend and we might see additional price surges.
The remaining obstacle appears to be 55.5, which is present in the 14 day RSI.
What will happen to crypto this weekend? Please leave your comments.
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