Fun

Bitcoin, Ethereum Technical Analysis: BTC, ETH Begin Weekend Close to Key Resistance Levels

News Feed - 2022-03-26 08:03:26

Bitcoin, Ethereum Technical Analysis: BTC, ETH Begin Weekend Close to Key Resistance Levels


Bitcoin and ethereum began the weekend trading close to key resistance levels, as crypto markets continued to sustain recent gains. Overall, the global cryptocurrency market cap was marginally higher on Saturday, as traders prepared for this weekend’s session. Bitcoin


BTC is currently trading 6% higher than at the beginning of the week, this coming as prices rallied to multi-week highs.


On Saturday, BTC/USD hovered marginally below its resistance of $45,050, as prices rose to an intraday high of $44,999.49.


Following four consecutive days of gains, today’s consolidation sees bulls identifying the current area of uncertainty, and wondering whether to sustain pressure or secure earlier gains. BTC/USD – Daily Chart


BTC has not truly traded above the current resistance level since December 29, when prices were falling from a then high of $52,198.


Looking at the chart, the 14-day RSI indicator has marginally moved beyond its own resistance of 62.10, which is a slight positive for bulls.


However, the price strength is still relatively close to the ceiling, which shows that market uncertainty is still rife.


Traders will likely continue to wait for confirmation prior to any further positions.


. Ethereum


ETH was marginally lower than Friday’s peak of $3,183.96, with the world’s second-largest cryptocurrency trading 0.43% lower as of writing.


Following its breakout of the $3,180 resistance level during yesterday’s session, ETH/USD today fell to a low of $3,087.49.


This intraday bottom was short lived, with prices now back above $3,120 and appearing to be consolidating below the ceiling. ETH/USD – Daily Chart


Price strength in ethereum is deeply overbought, with the 14-day RSI indicator tracking at its highest level since November 10.


Bulls will likely still target the $3,310 resistance, which has been in place since February 10, however the road there seems more uncertain, as bears are likely waiting for a sign to re-enter. Tags in this story Analysis, Bitcoin, Crypto, ETH, Ethereum


Is there enough momentum left in ETH to see further gains this weekend? 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. Biggest Movers: CVX Nearly 14% Higher, as RUNE Extends Friday"s Gains  MARKET UPDATES | 11 hours ago Biggest Movers: QNT Climbs 10%, as ALGO and RUNE Rise Higher MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleSurvey: Cryptocurrency Adoption to Grow Significantly This Year in Latam Next articleVenezuela’s Sunacrip Launches Petro-Based Gift Card Market and Exchange 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 ItIndia Targets 700 Crypto Investors for Non-Payment of Taxes: Report


India"s income tax department has reportedly identified about 700 cryptocurrency investors who have failed to pay taxes on high-value crypto transactions. "We have a long list of people who were transacting in crypto assets but were not paying tax," said ... read more.BNDES Director Offers New Insights on Development of Brazilian Blockchain Network Kazakhstan Shuts Down Over 100 Crypto Mining Farms Fed Hikes Benchmark Bank Rate for the First Time Since 2018, FOMC Expects 6 More Increases UAE Hospitality Brand Stella Stays Now Accepts Crypto

News Feed

Viral Philanthropic App Dreamr® Announces the Return of Charlie Rocket’s Dream Machine Tour
Viral Philanthropic App Dreamr® Announces the Return of Charlie Rocket’s Dream Machine Tour press release PRESS RELEASE. Social media dream builder Charlie Rocket and Dreamr Labs
Rakesh Upadhyay5 hours agoPrice analysis 7/12: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOTBitcoin continues to face strong resistance at $31,000, but supportive macroeconomic factors could tilt the advantage in f
Russia Busts Revil Ransomware Group on US Request, Arrests 14 Members
Russia Busts Revil Ransomware Group on US Request, Arrests 14 Members Russian law enforcement agencies have dismantled the notorious hacking group Revil, believed to be behind rans
Mt. Gox repayments won’t be as bad for Bitcoin as you think
Tom Mitchelhill6 hours agoMt. Gox repayments won’t be as bad for Bitcoin as you thinkThe nearly $9 billion in Mt. Gox creditor repayments starting in July may not kick down the price of Bitcoin, but analysts say they c
Ghanaian Startup Bitsika Africa Processed $40 Million in Crypto Remittances in 2020, up 3,900% Year-on-Year
Ghanaian Startup Bitsika Africa Processed $40 Million in Crypto Remittances in 2020, up 3,900% Year-on-Year Bitsika Africa, a crypto startup operating out of Gha
Lessons from CertiK's dispute with Kraken
Shahar Madar3 hours agoLessons from CertiK"s dispute with KrakenWhite hat hacking is a crucial component of cybersecurity, but it can come with controversy — as CertiK and Kraken recently illustrated.159 Total views9
Cryptocurrency Is Agorism in Action
Cryptocurrency Is Agorism in Action The book “New Libertarian Manifesto” (NLM) by libertarian-anarchist Samuel E. Konkin III (SEK3) launched a movement that has grown
Biggest Movers: NEAR Hits 1-Month Low, XMR Down 12%
Biggest Movers: NEAR Hits 1-Month Low, XMR Down 12% NEAR saw recent losses extend on Wednesday, as it fell to a one-month low during today’s session. The decline in NEAR ca
Marco Castrovilli7 hours agoHuman vs. AI: Who is better at crypto investing?Cointelegraph journalist Giovanni Pigni spent two weeks challenging an AI program in a crypto investment competition.584 Total views59 Total sha
Gareth Jenkinson15 hours agoMultiversX launches on-chain two-factor authentication standardBlockchain protocol MultiversX has implemented a novel two-factor authentication mechanism to add additional security to its netw
Crypto Payments Are Acceptable in Foreign Trade, Russia’s Financial Watchdog Says
Crypto Payments Are Acceptable in Foreign Trade, Russia’s Financial Watchdog Says Russian financial watchdog Rosfinmonitoring is ready to accept the use of cryptocurrencies in in
Biggest Movers: ETC Nears 10-Week High, as TRX Extends Recent Gains
Biggest Movers: ETC Nears 10-Week High, as TRX Extends Recent Gains Ethereum classic was approaching a ten-week high on Wednesday, as prices rose by over 14% in today’s sess