The Crypto market saw considerable gains on Saturday, as both Ethereum and Bitcoin surged to new heights. Following Friday’s dip, Ethereum recovered and traded above the $1,700 mark, while Bitcoin moved towards the $25,000 level.
Bitcoin
Bitcoin (BTC) moved towards the $25,000 mark Saturday as Crypto markets rallied after yesterday’s drops.
The BTC/USD traded at an intraday low of $23,712.05 on Friday, before reaching a peak of $24,924.04 just before midnight.
The transfer caused Bitcoin to break through its long-term resistance level at $24,200.
The 14-day RSI also moved above its personal resistance level at 65.00 after hovering close to the 61.00 mark on Friday.
As of the writing of this article, the value energy is currently at a level of 65.29 with a ceiling of 70.00. This could be a goal for bulls.
The 10-day and 25-day moving averages have also shifted direction radically, showing signs of a potential bullish crossover.
If this happens, Bitcoin could be trading above $26,000 by the end of the weekend.
Ethereum
Ethereum (ETH) gained back above $1,700 to start the weekend as the bulls returned.
The ETH/USD traded at a high of $1,716.78 earlier in the day, a stark contrast from the 24 hours before when it was trading at a low of $1,656.28.
The world’s second biggest cryptocurrency rallied above $1,675 after the transfer.
At the time of writing, the RSI had hit a peak of 63.00.
With this collision, the value energy is now at $60.44 and ETH is being bought and sold at $1693.41.
If the bulls fail at this hurdle, ETH will not be able to recover $1,700 this weekend.
It looks like the bulls are pushing prices higher right now. Please leave your thoughts and comments below.
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