Fun

Bitcoin, Ethereum Technical Analysis: ETH Climbs to $3,500 to Start the Weekend

News Feed - 2022-04-02 09:04:33

Bitcoin, Ethereum Technical Analysis: ETH Climbs to $3,500 to Start the Weekend


ETH rose to its highest level since the start of January to begin the weekend, as prices rose following yesterday’s consolidation. BTC also rallied, however remains below this week’s high of over $48,000. Bitcoin


Although BTC started the weekend trading below this week’s high of $48,278, bulls looked to recapture this level, by moving away from Friday’s lows.


Following the nonfarm payrolls report, BTC fell to a low of $44,846.26 on Friday, however to start the weekend, prices rose to a high of $47,028.28 on Saturday.


This move comes as the uncertainty surrounding yesterday’s announcement has somewhat faded, giving bulls more encouragement to re-enter the market. BTC/USD – Daily Chart


The rebound in BTC’s price follows yesterday’s false breakout of support at $45,000, which then led to an extension of recent bullish sentiment into today’s session.


Looking at the chart, the 14-day RSI has also shown this, with a breakout of the 62.60 resistance occurring earlier on in the day.


Some believe that this could give bulls another reason to attempt to move beyond the $48,300 resistance, and potentially target $50,000. .

Ethereum


Whilst BTC was looking to recapture this week’s high, ETH started the weekend by hitting its peak from four months ago.


The world’s second largest cryptocurrency is currently up by over 6% on the day, as it climbed to a high of $3,509.18.


This rally in price saw ETH/USD rise to its highest point since January 6, and comes as markets finally moved past a troublesome ceiling. ETH/USD – Daily Chart


Looking at the chart, that resistance was the $3,440 point, which was one of the main obstacles stopping the price from climbing further.


As of writing, price strength has also regained some momentum, with the 14-day RSI hitting its highest point since Wednesday.


Now tracking above 70, prices are once again overbought, however as the $3,440 resistance has been overcome, bulls may continue to push price further. Tags in this story Analysis, BTC, ETH


What is the next price target for ETH bulls, $3,800? 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:  Near Surges 22% on Saturday, as SOL, AXS Move Higher MARKET UPDATES | 9 hours ago Biggest Movers: ZIL Jumps on Metapolis News, as AAVE Almost 15% Higher on Friday MARKET UPDATES | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleStudy: 10% Growth in Crypto Market Cap Reduces Value of African Firms by 0.76% Next articleLeisurePay Announces Dual Listings on Bitmart and Probit Global 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 ItNFT Marketplace Opensea to Add Credit Card, Apple Pay Support via Moonpay


According to the firm Moonpay, the non-fungible token (NFT) marketplace Opensea plans to accept credit card payments using the company’s payment infrastructure. The move follows Opensea gathering $23.5 billion in all-time sales volume, and the company’s recent Solana support announcement. ... read more.Leading NFT Marketplace Opensea to Add Solana Support in April Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC Indian Government Consulting With IMF, World Bank on Crypto Policy Study: 10% Growth in Crypto Market Cap Reduces Value of African Firms by 0.76%

News Feed

Prashant Jha13 hours agoSwiss crypto bank SEBA gets Hong Kong SFC licenseSEBA Bank began its quest for Hong Kong expansion in late 2022, setting up an office in November, with the firm obtaining an in-principle approval
From Shiba Inu to Squidgrow
From Shiba Inu to Squidgrow sponsored When society looks at the crypto industry today, one cannot deny that Dogecoin (Doge)and Shiba Inu (SHIB)are just as widely known as Bitcoin (B
Democrats and Republicans Agree Cryptocurrency Is the Future of Finance, Survey Shows
Democrats and Republicans Agree Cryptocurrency Is the Future of Finance, Survey Shows A new survey has revealed that Democrats and Republicans agree cryptocurrency is the future of
Jesse Coghlan5 hours ago‘Historic week’ as stablecoin, self-custody bills advance to House floorThe bills aim to create a regulatory framework for payment stablecoins and enshrine rights for crypto users to self-cust
Trevor Ward8 hours agoThe SEC is targeting Coinbase, Binance as proxies in its war on cryptoSEC Chair Gary Gensler’s lawsuits against Coinbase and Binance are a turning point for crypto — and an opportunity to fight
How Many More Birthdays Until Bitcoin Wins?
John Biggs is CoinDesk’s multimedia editor. The views expressed here are his own. Bitcoin just turned 11 and it’s worth looking at what this technology has achieved. Fi
‘Crypto Has Already Won’, Regardless Of Trump Or Harris Win: Bitwise CIO
Este artículo también está disponible en español. Matt Hougan, Chief Investment Officer of Bitwise Asset Management, declared in an investor note today that the crypto in
DC Attorney General Sues Billionaire Michael Saylor and Microstrategy Over Alleged Tax Fraud — Seeks $100 Million
DC Attorney General Sues Billionaire Michael Saylor and Microstrategy Over Alleged Tax Fraud — Seeks $100 Million The attorney general of the District of Columbia has sued Micros
Solana takes the lead in weekly stablecoin transfer volume
Nancy Lubale2 hours agoSolana takes the lead in weekly stablecoin transfer volumeSolana flipped Ethereum in weekly stablecoin transfer volume as investors chase after yield, airdrops and high returns from the memecoin fr
Jesse Coghlan7 hours agoBinance and CEO Changpeng Zhao intend to seek dismissal of CFTC complaintBinance, Changpeng Zhao and former compliance chief Samuel Lim intend to file two motions to dismiss a March lawsuit from t
Market makers sold over $300M Ether as ETH price crashed below $2,200
Zoltan Vardai10 hours agoMarket makers sold over $300M Ether as ETH price crashed below $2,200Ether’s price fell from above $3,000 to $2,100 due to selling pressure from a select group of market makers.4202 Total views
Ubisoft teases new blockchain game at Paris Blockchain Week
Gareth Jenkinson6 hours agoUbisoft teases new blockchain game at Paris Blockchain WeekThe AAA game developer aims to launch its first blockchain-based game by the end of 2024.918 Total views16 Total sharesListen to artic