Bitcoin, 以太坊技術分析: BTC, E比特幣Consolidate to Start the Weekend

比特幣, 以太坊技術分析: 比特幣, ETH Consolidate to Start the Weekend

Following strong gains on Friday, bitcoin was consolidating under a key resistance level to start the weekend. Bulls opted to secure gains as price uncertainty heightened in crypto markets, which as of writing are down 1% on the day. Ethereum was also marginally lower in the session.

比特幣

After strong gains on Friday, 比特幣 (比特幣) was trading marginally lower on Saturday, as prices fell below a key resistance point.

Following yesterday’s high of $24,294.79, which saw prices briefly breakout of the ceiling at $24,200, 比特幣/USD dropped to a low of $23,481.17 earlier in the day.

This low comes as traders seemingly opted to take profits at this point of uncertainty, opposed to attempting to send prices even higher.

比特幣/USD – Daily Chart

Looking at the chart, the resistance level of $24,200 came as another ceiling was hit, this time in the form of the 62 mark on the 14-day RSI (relative strength index).

Relative strength recently rose to its highest point since April 4, when 比特幣 was trading above $43,000, however price momentum in this instance stalled, due to current market conditions.

Prior to today’s price decline, bitcoin bulls were somewhat targeting the $25,000 mark, however in order to reach this, the RSI would need to move beyond 62.

以太坊

以太坊 (以太坊) was also lower in today’s session, as recent bullish sentiment shifted slightly to the bearish side to start the weekend.

The world’s second-largest cryptocurrency was consolidating on Saturday, as prices fell to a low of $1,662.79.

Saturday’s drop comes a day after 以太坊/USD failed to move beyond its long-term price ceiling of $1,780, which has been held since June 10.

以太坊/USD – Daily Chart

This failure then led to a reentry from bears that smelled blood, and moved to pressure out earlier bulls from their positions.

As of writing, 以太坊 is trading at $1,689.70, with the 14-day relative strength index tracking at 64.75, which is marginally below its own resistance level at 66.

Should bearish pressure persist in today’s session, the next landing spot for prices could be a floor of $1,620.

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Will ethereum drop below $1,600 this weekend? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons

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