Fun

Bitcoin, Ethereum Technical Analysis: BTC Above $21,000 as ETH Hits Fresh 2-month High

News Feed - 2023-01-14 09:01:57

Bitcoin, Ethereum Technical Analysis: BTC Above $21,000 as ETH Hits Fresh 2-month High


Bitcoin surged to a fresh two-month high on Jan. 14, as crypto markets were significantly higher on Saturday. The world’s largest cryptocurrency jumped above $21,000, as prices rallied for a sixth straight day. Ethereum traded above $1,500 to start the weekend, also hitting its strongest point since November. Bitcoin


Bitcoin (BTC) rose for a sixth straight session to start the weekend, as prices moved above the $21,000 level.


BTC/USD climbed to a peak of $21,054.38 earlier in today’s session, which comes after prices were at a bottom of $18,793.66 on Friday.


This spike in price saw bitcoin add as much as 10% to its value in the last 24 hours, hitting its strongest point since November 5 in the process. BTC/USD – Daily Chart


Looking at the chart, the rally came as the 14-day relative strength index (RSI) continued to surge. It is now tracking at 89.22.


Typically, a reading of 70.00 is seen as overbought, and with this print, which is its highest point in two years, we are deep in bear territory.


When price becomes overbought, many expect bearish sentiment to grow, as traders begin to short the market. Ethereum


Ethereum (ETH) also hit a two-month high in today’s session, with price staying in the green for a seventh consecutive day.


Following a low of $1,404.82 on Friday, ETH/USD moved to an intraday high of $1,558.25 on Saturday.


As with bitcoin, this rally sent the world’s second largest cryptocurrency to its highest point since November 5. ETH/USD – Daily Chart


Overall, ethereum is now trading over 23% higher in the last seven days.


The move comes as the 10-day (red) moving average extended a crossover of its 25-day (blue) counterpart.


Despite this bullish momentum to start the weekend, many still expect some reversals over the next few days.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Bitcoin, BTC, ETH, Ethereum


Could we see ethereum fall below $1,400 this weekend, with traders taking profits? Leave your thoughts in the comments below. Eliman Dambell


Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Biggest Movers: SHIB Hits 6-Week High, Whilst SOL Extends Recent Gains MARKET UPDATES | 8 hours ago Biggest Movers: SHIB Hits 6-Week High, ETC Extends Recent Gains MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleDMCC Crypto Centre Surpasses 500 member companies in 2022 Next articleBitmex Co-Founder Criticizes Former FTX CEO for Not Liquidating Hedge Fund Alameda Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework


Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto

News Feed

Ukraine’s Government Launches Official Website for Cryptocurrency Donations
Ukraine"s Government Launches Official Website for Cryptocurrency Donations The Ukrainian government has launched an official cryptocurrency donation website to raise funds in supp
Dogecoin ‘Looks Undeniably Impulsive’ – DOGE/BTC Ratio Uncovers Strong Accumulation
Este artículo también está disponible en español. Dogecoin has kicked off the new year with an impressive 29% rally from local demand levels, captivating investors and si
Binance denies reports of DWF Labs market manipulation
Zoltan Vardai13 hours agoBinance denies reports of DWF Labs market manipulationDWF Labs was first hit by market manipulation accusations in September 2023.2211 Total views10 Total sharesListen to article 0:00NewsOwn this
Price analysis 3/13: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, SHIB, AVAX, TON
Rakesh Upadhyay3 hours agoPrice analysis 3/13: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, SHIB, AVAX, TONThe crypto market rally is starting to show signs of exhaustion, but Bitcoin and altcoin charts highlight traders" desire
Ethereum poised to 50% surge this year against Bitcoin — Fractal analysis
Yashu Gola9 hours agoEthereum poised to 50% surge this year against Bitcoin — Fractal analysisThe ETH/BTC trading pair is forming a classic bullish reversal pattern similar to the one from 2019–2021, which led to 140
Bold Prediction: XRP Holders On The Path To Millionaire Status—Analyst
Este artículo también está disponible en español. A market expert has boldly proclaimed that all XRP holders might ultimately become millionaires. Related Reading XRP Pri
David Attlee29 minutes agoKazakhstan establishes regulatory agency to implement CBDCThe National Payment Corporation will be responsible for the development of “digital financial infrastructure,” including the implem
Argentinians Are Now Using P2P Markets to Multiply Their Savings
Argentinians Are Now Using P2P Markets to Multiply Their Savings Argentinians are now discovering that P2P (peer-to-peer) markets can be used to maintain or multiply their savings
Binance vs. Nigeria: A timeline of events
Amaka Nwaokocha14 hours agoBinance vs. Nigeria: A timeline of eventsAs the trial of Binance executive Tigran Gambaryan restarts in Nigeria, Cointelegraph recaps the story so far.2210 Total views13 Total sharesListen to a
Ubisoft Executive Thinks Players Reject NFTs Because They Don’t Understand Benefits
Ubisoft Executive Thinks Players Reject NFTs Because They Don"t Understand Benefits Nicolas Pouard, an executive at Ubisoft, one of the leading videogame companies in the entertain
Monthly NFT Metrics Dive Bomb, NFT Sales Measured in USD Slip 16%
Monthly NFT Metrics Dive Bomb, NFT Sales Measured in USD Slip 16% Non-fungible token (NFT) sales have dropped considerably during the last month as cryptocurrency values have seen
France’s Le Maire Attacks Facebook’s ‘Political’ Ambitions With Libra
France’s economic and finance minister says Libra is “unacceptable,” calling it an intrusion into the state’s political sovereignty. Writing in a Financi