BTC Prices Stall, Heading Into Weekend – Market Updates Bitcoin News

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Bit­coin prices were main­ly unchanged ear­ly in Friday’s ses­sion, as traders pre­pared for the week­end. Fol­low­ing a strong start to the week, cryp­to prices have most­ly con­sol­i­dat­ed in recent days. ETH was once again trad­ing close to sup­port at $1,750.

Bitcoin

Fol­low­ing a strong start to the week which saw BTC hit a high of almost $32,000, prices have since con­sol­i­dat­ed, trad­ing slight­ly below $30,000.

So far into Friday’s ses­sion, BTC was once again low­er, as it con­tin­ued to trade under this lev­el, and has hit an intra­day low of $29,732.91 in the process.

This low comes as prices con­tin­ue to trade below this week’s resis­tance lev­el of $30,500, and have instead moved clos­er to sup­port at $29,500.

Bitcoin, Ethereum Technical Analysis: BTC Prices Stall, Heading Into Weekend
BTC/USD – Dai­ly Chart

Despite these recent declines, bit­coin is still near­ly 1% high­er than at the same point last week, when prices were trad­ing under $29,000.

In addi­tion to this, the 14-day RSI has still yet to break its floor of 45, mean­ing that bulls are still hov­er­ing around wait­ing for an ide­al time to re-enter the market.

The 10-day mov­ing aver­age is now also down­ward fac­ing, with a poten­tial for a down­ward cross, how­ev­er should a bull­ish wave begin, we might see sen­ti­ment change.

Ethereum

ETH was once again trad­ing below $1,800 on Fri­day, as prices fell for a fourth con­sec­u­tive session.

Although these declines have been mar­gin­al, this bear­ish momen­tum has meant that ethereum has strug­gled to move beyond $1,800 this week.

As of writ­ing, ETH/USD fell to an intra­day low of $1,761.05 in today’s ses­sion, which comes less than 24 hours after a peak of $1,812.90.

Bitcoin, Ethereum Technical Analysis: BTC Prices Stall, Heading Into Weekend
ETH/USD – Dai­ly Chart

Despite this, look­ing at the last sev­en days will show that there has been a mar­gin­al rise in price of 0.33%.

This has meant that ETH has con­tin­ued to trade above sup­port at $1,750, despite bear­ish sen­ti­ment attempt­ing to move below this point.

In addi­tion to this, should the RSI con­tin­ue to remain above its own floor at 38, then we may like­ly see ETH recov­er some of its upwards momentum. 

Do you expect this floor of $1,750 to be bro­ken this week­end? Leave your thoughts in the com­ments below.

Eliman Dambell 

Eli­man brings a eclec­tic point of view to mar­ket analy­sis, hav­ing worked as a bro­ker­age direc­tor, retail trad­ing edu­ca­tor, and mar­ket com­men­ta­tor in Cryp­to, Stocks and FX.




Image Cred­its: Shut­ter­stock, Pix­abay, Wiki Commons

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