Fun

Bitcoin, Ethereum Technical Analysis: Ethereum Moves Past $3,000 to Start the Weekend 

News Feed - 2022-02-06 12:02:07

Bitcoin, Ethereum Technical Analysis: Ethereum Moves Past $3,000 to Start the Weekend 


Following a week of consolidation, bitcoin and ethereum prices both rallied past key resistance levels to start the weekend. Bitcoin moved beyond $40,000, with ethereum climbing over the $3,000 mark. Bitcoin


Cryptocurrencies were higher to start the weekend, as markets appear to have moved past recent bearish sentiment.


The world’s largest cryptocurrency bitcoin (BTC), became even more valuable on Saturday, as it broke out of its $40,000 resistance level.


BTC/USD hit an intraday high of $41,729.43 during Saturday’s session, as markets continue to react to yesterday’s Non-farm payrolls report.


The move came following bitcoin’s 14-day RSI finally moving past its recent hurdle of 40, which was held for most of the year.


As of writing, the RSI is currently tracking at 55.67, which is its highest level since November 15, when prices were trading above $60,000. BTC/USD – Daily Chart


The move has brought the 10-day and 25-day moving averages closer together, however, a cross still hasn’t transpired.


If this does eventually happen, we could be looking at BTC trading nearer to $50,000.


Ethereum


Ethereum (ETH) rose for the third consecutive session, as the world’s second-largest cryptocurrency surged to a 2-week high.


ETH/USD climbed to a high of $3,032.66 on Saturday, after rising by as much as 7% in the last 24-hours, and almost 20% in the last week.


As of writing, ETH has found resistance at the 54.40 RSI level, which has coincided with the bullish momentum slowing at a ceiling of $3,015. ETH/USD – Daily Chart


Heading deeper into the weekend, traders will likely be viewing the moving averages, to see if both short, and mid-term momentum could swing further upward. Tags in this story Bitcoin, BTC, buy the dip, ETH, Ethereum, Technical Analysis


What could be the next resistance level for ETH/USD? Leave your thoughts in the comments below. Eliman Dambell


Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Venezuelan Government Approves New Tax for Cryptocurrency and Foreign Currency Transactions NEWS | 2 hours ago Technical Analysis: Gala Jumps 37% Higher, as Crypto Bulls Return NEWS | 7 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleGofundme Shuts Down Truckers’ Freedom Convoy Fundraiser, Move Highlights the Importance of Crypto Crowdfunding Next articleGovernment Official Discusses Indian Crypto Policy, Global Regulations, G20 Meeting 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 ItRussians Aware of Bitcoin Divided on Proposed Crypto Ban, Poll Finds


A new survey has indicated that Russians who have heard about cryptocurrency are deeply divided in their opinions on the recently suggested ban on operations with digital assets. A third of the respondents support the central bank’s proposal while an ... read more.Central Bank Governor Says Kenya"s Position on Cryptocurrencies Has Not Changed Value Locked in Defi Climbs Higher, Polkadot TVL Spikes, Terra"s LUNA Sheds 21% Apple on Metaverse: We See a Lot of Potential and Are Investing — CEO Tim Cook Says "It"s Very Interesting to Us" Ubisoft Executive Thinks Players Reject NFTs Because They Don"t Understand Benefits

News Feed

US Treasury Targets Crypto Exchanges in Whole-of-Government Effort to Counter Ransomware
US Treasury Targets Crypto Exchanges in Whole-of-Government Effort to Counter Ransomware The U.S. Department of the Treasury has taken actions targeting cryptocurrency exchanges &#
David Attlee4 hours agoEU finalizes Data Act with a kill switch for smart contracts: Law Decoded, June 27–July 3European Union lawmakers have agreed to move ahead with the controversial European Data Act, which has pre
Solana ETF in the works: 3iQ files for new ETP in Canada
Brayden Lindrea1 hour agoSolana ETF in the works: 3iQ files for new ETP in CanadaThe Solana product, QSOL, seeks to provide shareholders with staking yield accrued from the Solana network.349 Total viewsListen to article
Bitcoin Crashes: Here’s Where The Nearest On-Chain Support Is
Este artículo también está disponible en español. Bitcoin has observed a plunge during the past day. Here’s the nearest on-chain level that the asset would end up r
Turkish Lira Slump Contributes to Rise in Turkey’s Daily Crypto Trades to Over One Million
Turkish Lira Slump Contributes to Rise in Turkey"s Daily Crypto Trades to Over One Million The popularity of cryptocurrencies in economically embattled Turkey has continued to surg
Bitdeer is among the most ‘cost-effective’ Bitcoin miners: Benchmark
Tom Mitchelhill3 hours agoBitdeer is among the most ‘cost-effective’ Bitcoin miners: BenchmarkBenchmark analyst Mark Palmer initiated coverage of Bitdeer on Thursday, issuing the miner with a “buy” rating and set
Ray Salmond2 hours agoForget about price! Polkadot Decoded 2023 says bear markets are for buildingThe mantra of this year’s Polkadot Decoded 2023 conference is to focus on building better products instead of worrying a
Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits
Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits Cryptocurrency exchange Bybit has announced upcoming changes to its know-your-customer
Brayden Lindrea8 hours agoLido Finance discloses 20 slashing events due to validator config issuesThe initial impact amounted to 20 Ether, worth $31,000, while the validator involved has now been taken offline.1297 Total
Bitcoin dominance hits 3-year high as BTC price dip pressures altcoins
William Suberg7 hours agoBitcoin dominance hits 3-year high as BTC price dip pressures altcoinsBitcoin scores an accidental multi-year high as BTC price volatility sends altcoins shooting lower.9343 Total views53 Total s
Bybit receives VASP, card operator registration in Argentina
Derek Andersen6 hours agoBybit receives VASP, card operator registration in ArgentinaBybit’s registration as a virtual asset service provider was made possible by a law passed in July.396 Total views6 Total sharesListe
Recent Bitcoin Bull Run and Prior Run-up Data Suggests a Softer Bear Market Is in the Cards
Recent Bitcoin Bull Run and Prior Run-up Data Suggests a Softer Bear Market Is in the Cards It’s been six months or roughly 180 days since bitcoin reached an all-time high a