Bitcoin rose modestly on the last Friday of the month, breaking through recent resistance at $21,100 in the process. ETHalso turned green in today’s session, rising about 5% and exceeding its own price ceiling.
Bitcoin
After a wild week of trading,BTCrallied again on Friday, with prices moving above $21,000 for the weekend.
Less than a day after trading at a low of $20,233.56,. BTC/USD rose to an intraday peak of $21,266.39.
In hectic trading on Friday, prices moved above a key resistance point at $21,100, as bulls continue to buy the recent bitcoin dip.
Traders who overcome today’s hurdles will likely be looking for this week’s high at $21,700 over the weekend.
The chart suggests that if this level is achieved, many bulls will choose to take profits and exit their positions as the 14-day RSI is about to be capped.
This hurdle is 36.70 points on the Relative Strength Index, which is currently at 35, firmly in oversold territory.
Ethereum
Ethereum was closing sharply closer to $1,200 on Friday as bullish momentum pushed prices above key resistance levels.
After nearly falling below $1,000 in Thursday’s session,ETH/USD soared to an intraday high of $1,191.27 at the time of writing.
At this peak, the world’s second largest crypto token traded about 8% higher from yesterday’s floor, breaking through the $1,190 ceiling in the process.
As mentioned yesterday, this level was one of the only hurdles preventing prices from re-entering $1,200 territory.
Today’sbullish pressure on ETHis building; ETHbulls are after the 35.60 ceiling on the 14-day RSI was broken on Thursday.
With a breakout likely later in today’s session, the only question is where the bulls choose to exercise their exit.
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