Bitcoin Closes to $17,000 Levels on Saturday . The crypto markets are mostly consolidated to start the week. At the time of writing, the global cryptocurrency market capitalization is down 0.32%. Ethereum also rose earlier in the day, with the price approaching the $1,230 level.
Bitcoin
Bitcoin (BTC) He fell below $17,000 at the start of the weekend.
BTC/USD hit a high of $16,905.22 early in today’s session. This was $16,793.53, the day after the price hit bottom.
The move keeps the world’s largest cryptocurrency trading above the critical support point of $16,800.
chart, the 14-day Relative Strength Index (RSI) is , could not exceed the ceiling of 48.00. The
index is currently trading at 46.72 and the bulls are still trying to break above the aforementioned resistance point.
On the other hand, if price strength breaks below the 45.00 floor, Bitcoin is likely to move towards the $16,000 levels.
Ethereum
BTCIn addition to BTC, Ethereum (ETH) also consolidates to start weekend, price approaches key resistance level
Following Friday’s low of $1,216.34,ETH/USD raced to a peak of $1,227.00 early in today’s session.
As a result of today’s move, Ethereum once again attempted to breach his $1,230 critical cap.
Looking at the chart, the breakout occurred, mainly due to the RSI as well Didn’t remain below its own ceiling at 47.50.
At the time of writing, the index is tracking 47.12 and momentum looks bearish as a result of the direction of the moving average (MA).
The 10-day (red) moving average extended its downward cross with the 25-day (blue) moving average. This is usually a sign of falling prices.
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