Ethereum Approaches Key Resistance Level at $1,230 on December 23 as markets continued to react to better-than-expected US GDP data. US Gross Domestic Product was revised up to his 3.2% above expectations of his 2.9%. Bitcoin nearly consolidated in today’s session, with the price trading near his $16,800.
Bitcoin (BTC) consolidates again Friday as markets continue to react to latest US Q3 GDP numbers it was done.
Following Thursday’s low of $16,592.41,BTC/USD rose slightly, with the price rising to a peak of $16,880.87 in today’s session.
The surge in price pushed BTC above the key resistance point of $16,800 as the bulls once again attempted to recapture the $17,000 mark.
chart, the recent price uncertainty is 14 days The Relative Strength Index (RSI) remains close to the bottom of 45.00.
Sentiment also looks uncertain following the recent crossover between the red 10-day moving average and the 25-day moving average (blue).
If this downward trend continues,BTC could trade near $16,000 over the Christmas weekend.
Ethereum (ETH) rose slightly at the end of the week as price approached key resistance levels earlier today.
ETH/USD hit an intraday peak at $1,224.21 on Friday’s session within 24 hours after hovering at $1,187.13.
Today’s move sees theETH bulls once again try to break out of the long-term resistance level at $1,230.
chart, the 14-day RSI is above the resistance point.
Price strength will need to surge towards the next resistance at 52.00 for the bulls to continue pushing Ethereum higher.
SUBSCRIBE HERE FOR WEEKLY PRICE ANALYSIS UPDATES IN YOUR INBOX:
IMAGE CREDITS: Shutterstock, Pixabay, Wiki Commons