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After moving below $19,000 on Thursday,BTCmanaged to rise above $20,000 in today’s trading session. ETHalso managed to hold above $1,000 after bears tried to push prices below this level in yesterday’s session.
Bitcoin
traded modestly higher on Friday as the market rebounded following Thursday’s bearish session.
Despite increasing volatility, the world’s largest crypto token rose to an intraday peak of $20,632.67 earlier today.
This comes less than 24 hours after prices fell to a bottom of $18,729.66, leadingBTC/USD below its long-term bottom of $18,800.
There have been at least three breakout attempts from this point in the past three weeks, but bulls pushed these attempts most of these attempts were pushed back.
Looking at the RSI indicator on the chart, strength is tracking below support at 30, but if a true rebound occurs, bulls should re-enter this level. .
Prices have since declined after earlier gains, and as of this writing, bitcoin is trading at $19,194.26, slightly above yesterday’s low.
Ethereum
after falling to an 11-day low on Thursday,was also higher in today’s session as ETHkept its price above $1,000.
The bears in Ethereum tried to break below this point yesterday, but the bulls were able to hold this off for now.
At the time of writing,ETH/USD has so far rallied to an intraday peak of $1,100.22 in today’s session after falling to $1,009.09 on Thursday.
Yesterday’s decline came as relative strength inETHfell below recent support at 35.85 and It fell to 32.
This RSI decline has since slowed and prices now appear to be consolidating near the $1050 floor.
The last time prices traded near this support point, they rose for four consecutive sessions.
Image credit: Shutterstock, Pixabay, Wiki Commons
