1 year ago
Bitcoin started the play successful consolidation, arsenic traders seemingly recovered a caller terms level astatine $26,500. The terms uncertainty comes arsenic markets settled pursuing a volatile week, which was headlined by the Federal Reserve complaint decision. Ethereum remains beneath $1,600.
Bitcoin
Bitcoin consolidated for a 2nd consecutive session, with the cryptocurrency hovering astir a level astatine $26,500.
Following a precocious of $26,786.10 connected Friday, BTC/USD slipped to a debased of $26,389.30 earlier successful the session.
The terms of bitcoin has since rebounded, and astatine the clip of penning this is trading astatine the $26,581.84 level.
It appears that the rebound came arsenic the comparative spot scale (RSI) failed to interruption retired of its ain level astatine 50.00.
At the clip of penning this, terms spot is tracking astatine 50.01, and should this hold, bulls could beryllium tempted to reenter the market.
Moving averages proceed to awesome that determination could beryllium an incoming uptrend, with the 10-day (red) inclination enactment inactive higher.
Ethereum
Ethereum (ETH) remained nether the $1,600 connected Saturday, contempt attempts by bulls to reenter this region.
ETH/USD dropped to a debased of $1,587.43 to commencement the weekend, hours aft bulls pushed terms to an precocious of $1,599.97.
However, it appears that determination could beryllium different effort to determination past this level, with ethereum presently trading astatine $1,593.07.
Unlike bitcoin, an upwards crossover of moving averages has yet to occur, nevertheless it seems similar this could hap astatine immoderate point.
This could yet beryllium the awesome bulls request to amplify pressure, and perchance engulf existent sellers.
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Do you expect ethereum to rally beyond $1,600 today? Leave your thoughts successful the comments below.
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