ETH Climbs to Over $1,200 to Start the Weekend – Market Updates Bitcoin News

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ETH moved into the $1,200 region to start the week­end, as prices rose for a third con­sec­u­tive ses­sion. Bull­ish sen­ti­ment has been miss­ing from cryp­to mar­kets in recent months, how­ev­er the time­ly return also saw BTC near its high­est point this week.

Bitcoin

Bit­coin entered the week­end trad­ing in the green, as bulls extend­ed their recent run for a third con­sec­u­tive session.

Fol­low­ing a low of $20,794.19 dur­ing Friday’s ses­sion, BTC/USD rose to an intra­day peak of $21,520.91 on Saturday.

Today’s move was the high­est point prices have reached since Tues­day, when bit­coin was trad­ing at $21,732.

Bitcoin, Ethereum Technical Analysis: ETH Climbs to Over $1,200 to Start the Weekend
BTC/USD – Dai­ly Chart

This looks to be the next tar­get for bulls, who will need to over­come this hur­dle in order to reach their next des­ti­na­tion at $22,000.

Look­ing at the chart, there is anoth­er hur­dle they must first over­come, and that is the 36.45 ceil­ing on the RSI.

Should we see this point bro­ken, then we might see bull­ish momen­tum also increase, lead­ing prices to their respec­tive targets.

Ethereum

Fol­low­ing some tur­bu­lence in the mid­dle of the week, ETH start­ed the week­end trad­ing high­er, as bull­ish sen­ti­ment returned.

Prices of the world’s sec­ond largest cryp­to token hit a high of $1,238.62 on Sat­ur­day, fol­low­ing a low of $1,146.52 yesterday.

As dis­cussed yes­ter­day, once the resis­tance of $1,190 was breached, bulls re-entered with sig­nif­i­cant pressure.

Bitcoin, Ethereum Technical Analysis: ETH Climbs to Over $1,200 to Start the Weekend
ETH/USD – Dai­ly Chart

As of writ­ing, ETH is at its high­est point in nine days, and is up near­ly 10% in the last sev­en days of trading.

Sim­i­lar to BTC, ethereum has also just encoun­tered a resis­tance point via the 14-day RSI, and until this is bro­ken, we may see a slight drop in upwards momentum.

Could we see ETH move to $1,300 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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