BTC Nears $21,000, ETH Above $1,640 On Saturday – Market Updates Bitcoin News
Bitcoin was back in the green on Saturday as bulls returned to cryptocurrency markets to start the weekend. The token moved closer to a peak of $21,000, rebounding from Friday’s selloff in the process. Ethereum was also higher in today’s session, climbing nearly 10%.
Bitcoin
Bitcoin (BTC) rebounded from Friday’s selloff in today’s session, as the token moved closer to a breakout of $21,000.
After yesterday’s low of $20,132.50, BTC/USD rose to an intraday high of $20,988.39 to start the weekend.
Today’s move sees the world’s largest cryptocurrency hovering near its highest level in almost six weeks.
As a result of today’s move, the 14-day relative strength index (RSI) is now approaching a ceiling of its own.
Price strength has already failed to break out of the aforementioned 66.00 resistance earlier this week, but bulls look set to retest this point.
Should a breakout occur, we would not only see the token above $21,000, but potentially move closer to $22,000.
Ethereum
Ethereum (ETH) was also higher to start the weekend, as prices rose nearly 20% in today’s session.
ETH/USD rallied to a high of $1,644.28 earlier in the day, which comes after falling to a low of $1,494.75 on Friday.
After today’s rally, the token founded by Vitalik Buterin rose to its highest point since September 13.
The move came as prices broke through a key resistance point at $1,590, following a failed attempt earlier in the week.
Although the price ceiling was broken, the RSI is now approaching a ceiling of its own, which may lead to increased uncertainty.
At the time of writing, ETH/USD is trading at $1,614.21, relatively lower than the previous peak.
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Will we see any further increases in ETH this weekend? Leave your thoughts in the comments below.
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