Bitcoin and Ethereum technical analysis: BTC and ETH consolidate after a week of intense volatility

After a week of choppy trading, bitcoin prices consolidated to kick off the weekend. The token climbed back above the $19,000 level on Saturday, hovering near a three-month low in recent days. Ethereum also consolidated during today’s session, with prices pulling back above $1,300.


Bitcoin (BTC) topped $19,000 on Saturday as markets continued to digest this week’s high level of volatility. Also read: Good news for crypto: US lawmakers are opposing the SEC’s move to expand the crypto enforcement unit..

After bottoming out at $18,617.55 on Friday, the highest crypto-The world currency hit an intraday high of $19,374.55 earlier in the day.

The move lifted Bitcoin back above its key support point of $19,300, after a recent breakout sent prices to a three-month low.

Looking at the chart, the initial rise in price in today’s session took place as the 14-day Relative Strength Index (RSI) also rose, reaching a resistance level in the process.

Since reaching a high of 44.10, BTC/USD prices have fallen from previous highs and are trading at $19,061.70 at the time of writing.

If the bulls intend to push BTC higher, or even push it back above $20,000, this current hurdle on the RSI will need to be overcome.


In addition to bitcoin, ethereum (ETH) also had a choppy week, with prices falling to as low as $1,220. This may interest you: Solana: The SOL price rises 50% in two weeks, but how far will it go?.

However, after reaching this point, which now appears to be a price floor, the token has risen slightly on consecutive sessions.

On Saturday, ETH/USD hit an intraday high of $1,335.28, which comes less than 24 hours after trading as low as $1,270.20.

As you can see on the chart, the move came as its RSI also rose, reaching a high of 38.70 in today’s session.

As with bitcoin before it, this reading brought the index to a point of resistance, which has historically been an area where bears re-enter the market.

At the time of writing, ETH is trading at $1,327.12, which is still more than 3% higher than Friday’s low.

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Do you expect Ethereum to rise higher this weekend? Leave your thoughts in the comments below.

Eliman brings an eclectic perspective to market analysis, having previously been a brokerage director and educator in trade Retail sale. Currently, he acts as a commentator on various asset classes including Crypto, Stocks, and FX.

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