Bitcoin, Ethereum Technical Analysis: ETH Nears $1,900, BTC Climbs Above $27,000 Following US Debt Ceiling Announcement

On Friday, bullish sentiment returned to cryptocurrency markets, arsenic the U.S. Senate approved the measure to summation the indebtedness ceiling. Bitcoin roseate backmost supra $27,000 connected the news, snapping a four-day losing streak. Ethereum neared the $1,900 level.

Bitcoin

Bitcoin (BTC) snapped a four-day losing streak connected Friday, aft it was reported that the U.S. Senate had passed the measure to summation the indebtedness ceiling.

This comes up of Monday’s deadline, which could person resulted successful the authorities moving retired of cash, had the measure not been approved.

Following the news, BTC/USD raced to a highest of $27,203.32, which comes a time aft dropping to a bottommost astatine $26,574.64.

Overall, it appears that this determination took spot aft bears were incapable to interruption a semipermanent level astatine $26,500, prompting bulls to reenter the market.

In summation to this, the comparative spot scale (RSI) moved supra a level of its ain astatine 46.00, and is presently tracking astatine 48.12.

The adjacent trial to spot if bitcoin tin prolong this momentum volition travel astatine the $27,500 ceiling. If passed, determination is simply a bully accidental that terms volition beryllium supra $28,000 this weekend.

Ethereum

Additionally, ethereum (ETH) besides moved higher successful today’s session, climbing person to the $1,900 level successful the process.

ETH/USD jumped to an intraday precocious astatine $1,896.62 earlier successful the day, little than 24 hours aft hitting a debased of $1,851.96.

Friday’s rally saw the world’s 2nd largest cryptocurrency extremity a two-day downturn, pursuing a bounce from a level of $1,830 connected Thursday.

From the chart, a bounce connected the RSI besides took place, with terms spot jumping from enactment astatine 51.00.

The adjacent disposable constituent of absorption present appears to beryllium astatine 59.00, and should ETH scope this point, terms volition beryllium person to $1,930.

At the clip of writing, ethereum is trading astatine $1,893.49.

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Will ethereum determination supra $1,900 this weekend? Leave your thoughts successful the comments below.