ETH Back Above $1,300 To Start Weekend – Market Updates Bitcoin News
Ethereum once again traded above $1,300 as cryptocurrency prices rallied to start the weekend. Markets were back in the green on Saturday after a volatile week, which came as the US dollar continued to strengthen. Bitcoin also rose higher, moving back above $19,000.
Bitcoin
Bitcoin (BTC) surged back above $19,000 on Saturday, as cryptocurrency markets climbed higher to start the weekend.
Earlier in today’s session, BTC/USD rose to an intraday high of $19,237.39, which comes less than a day after hitting a low of $18,770.97.
Today’s top sees the token moving away from the recent support point at $18,900, following a false breakout in yesterday’s session.
Looking at the chart, the rise in price has also pushed the 14-day relative strength index (RSI) higher, and it is now moving towards a separate resistance point.
At the time of writing, the index is following the 46.35 point, which is marginally below a resistance level of 48.00.
Should we see this ceiling breached, BTC bulls could be one step closer to recapturing the $20,000 mark.
Ethereum
Ethereum also traded higher to start the weekend, as the token rallied after a turbulent week of trading.
After a move to a low of $1,260.67 on Friday, ETH/USD was back above $1,300 on Saturday, reaching a high of $1,306.71 in the process.
As with bitcoin above, today’s wave saw ethereum bounce off a key support at $1,270 and it is now on track to reach a resistance level.
The aforementioned ceiling is the $1,330 point, which has not been hit since Tuesday, when bearish pressure moved the price below this point.
However, bullish sentiment appears to be returning, with the RSI now at 45.90, which is marginally below a ceiling of 46.00.
If the momentum remains focused upwards, we will likely see this point breached this weekend, and the token once again above $1,330.
Register your email here to get weekly price analysis updates delivered to your inbox:
Where do you expect to see etherland this weekend? Leave your thoughts in the comments below.
Image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or an endorsement or recommendation of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on content, goods or services mentioned in this article.
