Bitcoin was back above $28,000 on Saturday as markets continued to react to the latest Non-Farm Payrolls (NFP) report. Figures released Friday showed that 236,000 jobs were added to the US economy last month. Ethereum was also back in the green to start the weekend.
Bitcoin
bitcoin (BTC) rallied back above the $28,000 level on Saturday, as markets continued to react to the latest NFP report.
Payrolls came in at 236,000, which was marginally lower than the 240,000 sum that many anticipated.
BTC/USD rose to an intraday high of $28,159.86 earlier in today’s session, less than 24 hours after trading as low as $27,824.15.
Looking at the chart, it appears that the rise in price occurs as the RSI bounced from its bottom at 58.00.
At time of writing, the index stands at 59.07, which has helped delay an inevitable crossover lower with the 10-day moving average (red) and its 25-day counterpart (blue).
BTC it is trading at $28,024.28 at the time of writing.
Ethereal
ethereal (ETH) started today’s session in the green, as prices tried to get back to the $1900 level.
After a minimum of $1,845.99 on Friday, ETH/USD rose to a high of $1,879.11 to start the weekend.
The move saw the world’s second-largest cryptocurrency break a two-day losing streak, after holding above the floor at $1,830.
Despite the slight rise in price, ethereum price strength remains below a key support point at 61.00.
At time of writing, the 14-day RSI sits at 60.42, and in the event of a breakout, there will be a higher probability that the price will move above $1,900.
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Will ethereum continue to consolidate this weekend? Leave your thoughts in the comments below.
image credits: Shutterstock, Pixabay, Wiki Commons
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