Ethereum once again traded above $1700 to start the weekend as the cryptocurrency rebounded from Friday’s decline. The global crypto market capitalization rallied in today’s session as the bulls moved to buy yesterday’s dip. Bitcoin was back in the green as well, with prices approaching the $25,000 mark.
Bitcoin
bitcoin (BTC) moved towards the $25,000 mark on Saturday, as crypto markets rallied from yesterday’s dips.
After a minimum of $23,712.05 on Friday, BTC/USD ran to an intraday high of $24,924.04 earlier in the day.
As a result of this move, bitcoin once again broke through its long-term resistance level at the point of $24,200.
Adding to this, the 14-day RSI also moved back above its own resistance level at 65.00, after tracking near the 61.00 mark on Friday.
As of this writing, price strength is currently at a reading of 65.29, with a ceiling at 70.00, a possible target for the bulls.
The 10-day moving average (red) has also completely reversed course and appears to be nearing a bullish crossover with its 25-day counterpart (blue).
If this happens, BTC it could be above $26,000 before the end of the weekend.
Ethereal
from Ethereum (ETH) rallied back above the $1,700 level to start the weekend, with the bulls returning to the fold.
ETH/USD moved to a high of $1,716.78 earlier in the day, which comes less than 24 hours after trading as low as $1,656.28.
The world’s second-largest cryptocurrency rallied back above a price high of $1,675 following the move.
At the time of writing, past gains have eased somewhat as the RSI hit a top at 63.00.
Since this collision, price strength is now around $60.44, with Ethereum trading at $1,693.41.
If the bulls do not clear this hurdle, it is unlikely that ETH will make up the $1,700 this weekend.
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Do you expect the bulls to continue driving prices higher today? Leave your thoughts in the comments below.
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