Bitcoin returned to the green Saturday as cryptocurrency bulls returned to the markets for the weekend. The token moved closer to a peak of $21,000, rebounding from Friday’s sell-off in the process. Ethereum was also higher in today’s session, climbing by nearly 10%.
Bitcoin (BTC) rebounded from Friday’s sell-off in today’s session, as the token moved closer to a breakout of $21,000.
Following yesterday’s low of $20,132.50, BTC/USD surged to an intraday high of $20,988.39 to start the weekend.
Today’s move sees the world’s largest cryptocurrency hover close to its highest level in nearly six weeks.
As a result of today’s move, the 14-day relative strength index (RSI) is now nearing a ceiling of its own.
Although price strength failed to overcome the resistance at 66.00 this week, bulls appear determined to retest this point.
If a breakout occurs, the token will rise to above $21,000 and possibly even move closer to $22,000.
Ethereum (ETH) was also higher to start the weekend, as prices rose by nearly 20% in today’s session.
The ETH/USD pair reached a high of $1644.28 in the morning, just after falling to $1,494.75 Friday.
Following today’s rally, the token founded by Vitalik Buterin rose to its highest point since September 13.
After a failure earlier this week, prices moved through the $1,590 resistance level.
Despite breaking the price ceiling, the RSI now faces a ceiling, which can lead to greater uncertainty.
As of this writing, the price for ETH/USD was $1,614.21, which is lower than its prior peak.
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