Bitcoin was marginally higher the Friday before, clearing out its previous resistance of $21,100. ETH was also in the green during today’s session, climbing by nearly 5% to move past a price ceiling of its own.
Bitcoin
After a volatile week of trading BTC prices were higher Friday as they moved over $21,000 going into Saturday.
After trading at $20,233.56, the BTC/USD soared to an intraday high of $21,266.39
Friday’s flurry of trading saw prices move past a key resistance point of $21,100, and this comes as bulls continue to buy the recent bitcoin dip.
After overcoming today’s hurdle, it is likely that traders will target this week’s high of $21,700 over the course of the weekend.
The chart clearly shows that if the level is achieved, bulls may choose to make gains or exit because of the upcoming ceiling for the 14-day RSI.
The Relative Strength Index is at 36.70 points, currently at 35. This is clearly a hurdle and it is well oversold.
Ethereum
Ethereum reached $1,200 fast on Friday as bullish sentiment lifted prices beyond a crucial resistance.
After almost falling below $1,000 during Thursday’s session, ETH/USD surged to an intraday high of $1,191.27 as of writing.
This peak saw the world’s second largest crypto token trade nearly 8% higher than yesterday’s floor, breaking the $1,190 ceiling in the process.
This level, as we have discussed, was one of only a few obstacles that kept prices from returning to the $1.200 range.
Today’s mounting pressure from ETH bulls comes after the 35.60 ceiling of the 14-day RSI was broken on Thursday.
With a breakout likely later in today’s session, the only question is where bulls will choose to exercise an exit.
What is your prediction for ETH’s future? Please leave your comments.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. It does not constitute an offer, solicitation, or recommendation of any company, products or services. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.
