Ethereum Back Above $1,300 to Start the Weekend – Market Updates Bitcoin News

On Monday Ethereum was close to its three-week high, after prices rose following a chaotic weekend. The market cap traded at 1.56%, suggesting that bullish sentiment has returned to crypto markets. Bitcoin was also in the green in today’s session.


Bitcoin (BTC), trading at a key resistance on Monday as bullish sentiment seemed to have returned to crypto markets.

Following a low of $19,124.20 on Sunday, BTC/USD surged to a peak of $19,646.65 earlier in today’s session.

The move temporarily saw the token move above $19600 but as the day progressed it fell lower.

Bitcoin, Ethereum Technical Analysis: Ethereum Back Above $1,300 to Start the Weekend
BTC/USD – Daily Chart

BTC/USD currently trades at $19 426.71 as of writing. The 14-day relative strength indicator (RSI) has collided to a resistance point.

The index currently tracks at 50.25 after prices failed to rise above a ceiling of 52.00.

Bulls will probably continue their efforts to push beyond that point. Should this happen, BTC could rise to $20,000.


After breaking through a crucial resistance, the ETH/USD pair was close to its three-week peak on Monday.

The intraday peak of $1,368.43 reached ETH/USD earlier today. This is slightly below the October 6th high.

Today’s move comes as the price ceiling of $1,330 was broken during yesterday’s session, giving way to bulls reentering the market.

Bitcoin, Ethereum Technical Analysis: Ethereum Back Above $1,300 to Start the Weekend
ETH/USD – Daily Chart

The RSI of ethereum also soared past a barrier, surpassing its own resistance at 50.30 and currently tracking at 52.82.

Recent bullish pressure increases have led to a change in momentum. The 10-day (red), moving average is now close to crossing over with its 25 day (blue).

If this trend continues, it’s likely that ethereum trading will rise above $1,400 over the next few days.

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In this story, tags
Analyse, Bearish Bitcoin, BTC/USD Bullish Charts, Ethereum, Market Conditions Markets Technical Analysis

Are you expecting bullish momentum in ethereum to continue this week? Please leave your comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has previously been a broker director and retail trade educator. He currently acts as an analyst for various asset types, such as Crypto, Stocks, FX.

Credits for the imageShutterstock. Pixabay. Wiki Commons

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