BTC, ETH Consolidate on Saturday, Following Recent Gains – Market Updates Bitcoin News

Bitcoin was marginally higher to start the weekend, as bulls were able to fight through Friday’s volatility. Prices of the world’s largest token rose above $22,000 earlier in the session, whilst ETH continues to trade above $1,200.

Bitcoin

BTC was trading marginally in the green on Saturday, as prices of the token rose above $22,000 earlier in today’s session.

The BTC/USD intraday peak was $22,010.64 after Friday’s low of $21,257.45.

The move saw bitcoin again attempt to break out of its resistance level at $22,070, however like in yesterday’s session, bears have thus far resisted the break.

This is despite the fact that the 14-day RSI traded below a limit at 48.80.

If we do see an upward trend, however, then it’s likely that bulls will help price stability overcome this hurdle.

The bears are known for recapturing momentum in this region, and so it is possible that uncertainty could lead to price consolidation.

Ethereum

ETH’s weekend began in consolidation. Prices of the token remained at the $1,200 area on Saturday.

The world’s second-largest cryptocurrency fell to a floor of $1,200.63 earlier today, after starting the day trading at a peak of $1,248.01.

Prices have risen slightly as of this writing with the ETH/USD currently trading at $1210.96

Price uncertainty increased after Friday’s attempted breach of the $1,295 ceiling. Bears have begun pushing for lower prices.

So far, this volatility hasn’t sent prices below the $1,200 mark, however should this continue, we might see ETH moving to a floor of $1,150.

This weekend, will ETH drop below $1,200? Comment below to share your views.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has worked in various capacities, including as a retail trading teacher, brokerage director, and market commentator for Crypto, Stocks, and FX.