After a turbulent week, bitcoin prices consolidated to start the weekend. The token is hovering near three-month lows over the past few days, having briefly surpassed the $19,000 level on Saturday. Ethereum also consolidated in today’s session as prices returned above $1,300.
Bitcoin
Bitcoin (BTC) was just above $19,000 on Saturday as the market continued to digest the week’s volatility.
After hitting a low of $18,617.55 on Friday, the world’s largest cryptocurrency rose to an intraday peak of $19,374.55 earlier today.
The move pushed bitcoin back above a key support point of $19,300, following a recent breakout that took prices to a three-month low.
BTC
The chart shows that the first price rise of today’s session occurred as the 14-day relative strength index (RSI) also rose, hitting resistance in the process. Since hitting the ceiling at
44.10,BTC/USD prices have fallen from previous The /USD price has fallen from its previous high and is trading at $19,061.70 at the time of this writing.
Bulls should be willing to takeBTCup and possibly above $20,000, but should overcome this current obstacle on the RSI.
Ethereum
In addition to Bitcoin, Ethereum (ETH) also had a wild week, dropping to a low of $1220 in price.
But after hitting this point, which now appears to be the price bottom, the token rose slightly in successive sessions.
On Saturday,ETH
/USD rose to an intraday high of $1,335.28 within 24 hours after trading as low as $1,270.20.
As seen in the chart, the RSI also moved higher, hitting a high of 38.70 in today’s session.
As with Bitcoin above, this reading took the index to a resistance point, which is historically the area where bears re-enter the market.
At the time of writing,ETHis trading at $1,327.12, which is still up over 3% from Friday’s floor.
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