Jump to content

Bitcoin, Ethereum Technical Analysis: BTC Nears $27,000, as Bulls Make a Comeback

Recommended Posts

Bitcoin, Ethereum Technical Analysis: BTC Nears $27,000, as Bulls Make a Comeback

Bitcoin bounced back strongly to start the weekend, as prices moved closer to the $27,000 mark in today’s session. After a recent spell of consolidation, bulls returned to action, buying the recent dip in the process. Ethereum was also higher, closing in on $1,800 on Saturday.


Bitcoin (BTC) surged on Saturday, as bulls of the cryptocurrency moved to buy the recent dip in price.

BTC/USD rose to a high of $26,769.39 to start the weekend, which comes less than a day after trading at a low of $25,245.36.

The move pushed the price to its highest point since May 8, a day when the price was at a peak of $26,820.

Looking at the chart, the rally came when the 14-day relative strength index (RSI) finally broke out of a key ceiling at 43.00.

At the time of writing this, the index is tracking at 50.55, which is close to a new resistance at the 51.00 level.

Traders are likely targeting the $27,300 level, and could hit this if momentum continues to be bullish this weekend.


Ethereum (ETH) also rebounded strongly to start the weekend, days after falling to a three-month low.

Following a low of $1,653.17 on Friday, ETH/USD raced to an intraday peak at the $1,766.76 level earlier today.

ETH fell to a bottom at $1,620 on Thursday, which was the weakest point that the price had hit since March 13.

Similar to BTC, a breakout of the RSI was one of the triggers of the move, with price strength climbing past a ceiling at 41.00.

The index is currently at a reading of 43.79, with the next resistance level at the 50.00 mark.

Register your email here to get weekly price analysis updates sent to your inbox:

Will ethereum move above $1,800 this weekend? Leave your thoughts in the comments below.

View the full article

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Create New...