Bitcoin climbed back above $28,000 on Saturday as the market continued to react to the latest nonfarm payrolls (NFP) report. The numbers released on Friday showed that 236,000 jobs were added to the U.S. economy last month. Ethereum also returned to the green as the weekend came to a close.
Bitcoin
Bitcoin (BTC) surged above the $28,000 level on Saturday as the market continued to react to the latest NFP report.
Jobless claims came in at 236,000, slightly below the 240,000 many had expected.
BTC/USD rose to an intraday high of $28,159.86 earlier in the session today, less than 24 hours after trading at a low of $27,824.15.
The chart shows that the Relative Strength Index (RSI) has bounced back from a bottom of 58.00
and the price has risen.
As of this writing, the index is hovering at 59.07, helping to delay the inevitable downside cross between the 10-day (red) and 25-day (blue) moving averages.
BTCis trading at $28,024.28 at the time of writing.
Ethereum
Ethereum (ETH) opened today’s session in the green as prices tried to return to the $1,900 level.
Following Friday’s low of $1,845.99,ETH/USD rose to a peak of $1,879.11 to start the weekend.
The move snapped a two-day losing streak for the world’s second-largest cryptocurrency after it stayed above the $1,830 floor.
Despite a slight price gain, the price strength of Ethereum remains below the key support point of 61.00.
At the time of writing, the 14-day RSI is hovering at 60.42, and a breakout would increase the likelihood of price crossing $1,900.
Sign up for email here to receive weekly price analysis updates:
Image credit: Shutterstock, Pixabay, Wiki Commons
