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

William Suberg8 hours agoBTC price dips 4% as Bitcoin analysis reveals low liquidity above $33KBitcoin remains prone to volatility, while further downside offers the “path of least resistance” for BTC price next, ana
Ethereum Hashrate Taps Record-Setting 1 Petahash as ETH’s Mining Profitability Remains High
Ethereum Hashrate Taps Record-Setting 1 Petahash as ETH’s Mining Profitability Remains High 20 days ago, Ethereum’s network participants upgraded the protocol and implemen
S&P Dow Jones Launches 5 New Cryptocurrency Indices
S&P Dow Jones Launches 5 New Cryptocurrency Indices S&P Dow Jones Indices, the world’s leading index provider, announced Tuesday the launch of five new cry
Marcel Pechman3 hours agoEthereum futures premium hits 1-year high — Will ETH price follow?ETH rallied alongside Bitcoin as new spot ETF news emerged, and the altcoin could benefit from the failure of its layer-1 compe
‘Not a classic VC’: Tether plans to invest up to $1B in one year
Helen Partz9 hours ago‘Not a classic VC’: Tether plans to invest up to $1B in one yearTether’s VC arm has already spent about $2 billion on tech like AI and alternative financial infrastructure over the past two ye
Economist Peter Schiff Warns Bitcoin May Not Rise When Other Financial Assets Rebound
Economist Peter Schiff Warns Bitcoin May Not Rise When Other Financial Assets Rebound Gold bug and economist Peter Schiff has warned that the price of bitcoin may not rise when oth
Kyle White5 hours agoBitcoin price holds $28K range as institutional investor maneuvering boosts sentimentComments from institutional investors and amendments to the spot Bitcoin ETF applications could be behind the rece
J.W. Verret7 hours agoBinance’s DOJ settlement offers a glimmer of hope for the crypto industryChangpeng Zhao is out at Binance, but his company lives on. That suggests tacit affirmation from the Biden administration o
Bitcoin speculators hodl 2.8M BTC in ‘worst performing’ price cycle
William Suberg21 minutes agoBitcoin speculators hodl 2.8M BTC in ‘worst performing’ price cycleBitcoin unrealized losses mount, but unlike previous market cycles, BTC hodlers underwater are keeping a lid on their emo
Oklahoma’s new crypto law protects miners, sets blockchain legal framework
Ana Paula Pereira4 hours agoOklahoma’s new crypto law protects miners, sets blockchain legal frameworkOklahoma Governor Kevin Stitt enacted a law on May 13 that creates a legal framework for blockchain and safeguards m
Jon Rice3 hours agoPay-to-use blockchains will never achieve mass adoptionBlockchain projects should learn from Google and Facebook by monetizing their users without directly asking for their money.1645 Total views16 Tot
Bitcoin.com Wallet Adds ERC-20 Tokens
Bitcoin.com Wallet Adds ERC-20 Tokens TheBitcoin.comTeam is excited to announce the integration ofERC-20 tokensinto theBitcoin.com Wallet. That means anyone can now buy, sell, rece