Bitcoin and Ethereum Technical Analysis: Will Prices Continue to Rise?

  • Bitcoin price managed to stay above 30,000 dollars.
  • If ETH bulls succeed, ETH can climb to higher levels.

Bitcoin is still trading above 30,400 dollars and ETH above 2,100 dollars. What will happen next? Current price analysis.

Bitcoin (BTC)

On Saturday, when the crypto markets consolidated to start the weekend, Bitcoin (BTC) fell below 31,000 dollars. BTC/USD, which peaked at 31,005.61 dollars on Friday, fell to a low of 30,044.50 dollars in the early hours of the day.

Yesterday’s peak seems to have prompted bulls to protect their gains, as Bitcoin reached its highest level since June 7th.


BTC/USD Daily Price Chart

Looking at the chart, the price drop occurred when the 14-day relative strength index (RSI) hit a ceiling at 71.00.

At the time of writing, the index is currently at 70.18, slightly higher than the 68.00 bottom. If the RSI falls below 70, there is a high probability that more bulls will empty their previous positions to protect their recent profits.

Ethereum (ETH)

Ethereum (ETH)

Although lower than Friday’s peak, Ethereum (ETH) has continued to trade above $2,100. ETH/USD fell to a low of $2,049.08 during the day but later recovered and is currently trading at $2,103.18.

This is slightly lower than yesterday’s peak of $2,120.59, and ETH is trading at its strongest point since May of last year.


ETH/USD Daily Price Chart

Ethereum, the world’s second-largest cryptocurrency, faced a ceiling in the RSI indicator like Bitcoin.

The above-mentioned resistance point of 75.00 was reached on Friday, and the index is currently being followed at 74.88.

If Ethereum bulls can surpass this point, there is a possibility that prices will move closer to $2,200 this weekend.

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Lucien Renard
Lucien Renard
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.

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