Ethereum climbed to the $1,230 mark on Dec. 23, after markets reacted to stronger than expected US GDP numbers. Gross Domestic Product in the United States was up to 3.2%, which surpassed the predicted 2.9%. Bitcoin prices traded near $16,800 today as prices stabilized.
Bitcoin
Bitcoin (BTC) settled back in on Friday, as the markets reacted to the third quarter US GDP figures.
Following a low of $16,592.41 on Thursday, BTC/USD rose to $16,880.87 at its highest point today.
The bulls pushed the price of Bitcoin above the $16,800 mark, aiming to break the $17,000 barrier.
According to the chart, the price is still quite uncertain, with the 14 day RSI remaining at 45.00.
The future of the market looks uncertain as well, with a red 10 day moving average (red) crossing the 25 day average (blue).
If the downtrend continues, we could see Bitcoin trading closer to the $16,000 mark over the Christmas weekend.
Ethereum
Ethereum (ETH) experienced some minor gains later in the week, as prices moved towards a key resistance level.
ETH/USD reached a peak of $1,224.21 in the Friday session, not long after it had hit $1,187.13.
Today’s move saw the ETH bulls attempting to break the $1,230 level.
