Bitcoin, Ethereum Technical Analysis: BTC Rebounds From 2-Month Low, as Bulls Enter the Market

0 5

knife

Bitcoin bounced back from a near two-month low on Saturday, as bulls moved in to buy the recent dip in price. Saturday’s move came as the cryptocurrency rebounded from a recent support point, after yesterday’s breakout. Ethereum was also higher, climbing above $1,800.

Bitcoin

Bitcoin (BTC) moved away from a recent two-month low on Saturday, as bulls opted to buy the recent dip.

After falling to a low of $25,878.43 on Friday, BTC/USD rose to an intraday high of $26,989.07 earlier in the day.

Today’s rebound sees bitcoin jump back above a key support point at $26,500, following Friday’s breakout.

From the chart, it appears that this took place as the 14-day relative strength index (RSI) found a floor of its own at 36.00.

At the time of writing, price strength is tracking at 37.99, with a ceiling at 43.00 a possible target.

Should bulls lead the charge to this point, it is likely that bitcoin will be back above the $27,000 level this weekend.

Ethereum

Ethereum (ETH) was back above a key price level to start the weekend, as it once again rose above the $1,800 mark.

ETH/USD hit a peak of $1,816.06 in today’s session, less than 24 hours after declining to a low at $1,747.94.

Bulls have seemingly taken yesterday’s move to a multi-week low as an opportune moment to increase position sizes in ETH.

Like with BTC, this was helped by the fact that RSI found a stable point of support, which in the case of ethereum was at the 41.00 zone.

From the floor, price strength is now tracking close to a ceiling at 45.00, and should this be broken, ETH will possibly move back above a key point at $1,830.

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

Could ethereum and bitcoin continue to climb this weekend? Leave your thoughts in the comments below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 41,064.00
ethereum
Ethereum (ETH) $ 2,202.88
tether
Tether (USDT) $ 0.999397
bnb
BNB (BNB) $ 241.93
xrp
XRP (XRP) $ 0.61646
solana
Solana (SOL) $ 69.86
usd-coin
USDC (USDC) $ 0.992267
staked-ether
Lido Staked Ether (STETH) $ 2,208.48
cardano
Cardano (ADA) $ 0.544622
dogecoin
Dogecoin (DOGE) $ 0.094342
avalanche-2
Avalanche (AVAX) $ 36.82
tron
TRON (TRX) $ 0.10329
polkadot
Polkadot (DOT) $ 6.62
chainlink
Chainlink (LINK) $ 14.67
matic-network
Polygon (MATIC) $ 0.832907
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 41,018.99
shiba-inu
Shiba Inu (SHIB) $ 0.000009
dai
Dai (DAI) $ 0.999986
litecoin
Litecoin (LTC) $ 72.11
uniswap
Uniswap (UNI) $ 6.01
bitcoin-cash
Bitcoin Cash (BCH) $ 228.98
leo-token
LEO Token (LEO) $ 3.94
stellar
Stellar (XLM) $ 0.12303
okb
OKB (OKB) $ 57.63
monero
Monero (XMR) $ 171.36
ethereum-classic
Ethereum Classic (ETC) $ 19.96
cosmos
Cosmos Hub (ATOM) $ 9.70
true-usd
TrueUSD (TUSD) $ 0.999086
kaspa
Kaspa (KAS) $ 0.118491
crypto-com-chain
Cronos (CRO) $ 0.098097
immutable-x
Immutable (IMX) $ 1.97
hedera-hashgraph
Hedera (HBAR) $ 0.06994
internet-computer
Internet Computer (ICP) $ 5.17
near
NEAR Protocol (NEAR) $ 2.24
filecoin
Filecoin (FIL) $ 4.59
aptos
Aptos (APT) $ 7.72
optimism
Optimism (OP) $ 2.26
injective-protocol
Injective (INJ) $ 23.85
lido-dao
Lido DAO (LDO) $ 2.26
vechain
VeChain (VET) $ 0.026965
bittensor
Bittensor (TAO) $ 315.61
mantle
Mantle (MNT) $ 0.577001
thorchain
THORChain (RUNE) $ 5.80
elrond-erd-2
MultiversX (EGLD) $ 61.36
quant-network
Quant (QNT) $ 110.55
algorand
Algorand (ALGO) $ 0.193161
celestia
Celestia (TIA) $ 10.53
the-graph
The Graph (GRT) $ 0.157205
binance-usd
BUSD (BUSD) $ 1.01
havven
Synthetix Network (SNX) $ 4.43
render-token
Render (RNDR) $ 3.85
arbitrum
Arbitrum (ARB) $ 1.09
aave
Aave (AAVE) $ 90.63
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,413.81
blockstack
Stacks (STX) $ 0.907432
maker
Maker (MKR) $ 1,380.99
bittorrent
BitTorrent (BTT) $ 0.000001
wemix-token
WEMIX (WEMIX) $ 3.45
flow
Flow (FLOW) $ 0.759884
kucoin-shares
KuCoin (KCS) $ 11.31
first-digital-usd
First Digital USD (FDUSD) $ 1.00
the-sandbox
The Sandbox (SAND) $ 0.503813
theta-token
Theta Network (THETA) $ 1.04
terra-luna
Terra Luna Classic (LUNC) $ 0.000178
fantom
Fantom (FTM) $ 0.357822
ordinals
ORDI (ORDI) $ 46.03
bitcoin-sv
Bitcoin SV (BSV) $ 48.30
axie-infinity
Axie Infinity (AXS) $ 7.05
decentraland
Decentraland (MANA) $ 0.483596
gala
GALA (GALA) $ 0.030048
eos
EOS (EOS) $ 0.760765
neo
NEO (NEO) $ 11.74
iota
IOTA (IOTA) $ 0.269878
beam-2
Beam (BEAM) $ 0.017769
mina-protocol
Mina Protocol (MINA) $ 0.804672
whitebit
WhiteBIT Coin (WBT) $ 5.67
klay-token
Klaytn (KLAY) $ 0.23688
kava
Kava (KAVA) $ 0.762809
tezos
Tezos (XTZ) $ 0.865639
usdd
USDD (USDD) $ 0.990604
bonk
Bonk (BONK) $ 0.000011
bitget-token
Bitget Token (BGB) $ 0.487082
cheelee
Cheelee (CHEEL) $ 12.58
xdce-crowd-sale
XDC Network (XDC) $ 0.048334
ecash
eCash (XEC) $ 0.000034
frax-ether
Frax Ether (FRXETH) $ 2,192.66
frax
Frax (FRAX) $ 1.00
frax-share
Frax Share (FXS) $ 8.57
tokenize-xchange
Tokenize Xchange (TKX) $ 8.08
helium
Helium (HNT) $ 4.49
sui
Sui (SUI) $ 0.623695
chiliz
Chiliz (CHZ) $ 0.082469
pancakeswap-token
PancakeSwap (CAKE) $ 2.41
gatechain-token
Gate (GT) $ 4.60
conflux-token
Conflux (CFX) $ 0.172686
pyth-network
Pyth Network (PYTH) $ 0.407622
curve-dao-token
Curve DAO (CRV) $ 0.652899
apecoin
ApeCoin (APE) $ 1.61
illuvium
Illuvium (ILV) $ 97.14
pepe
Pepe (PEPE) $ 0.000001