Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Following Week of Intense Volatility

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After a turbulent week of trading, bitcoin price consolidated to start the weekend. The coin climbed slightly above the $19,000 level on Saturday, hovering near a three-month low in recent days. Ethereum was also consolidating in today’s session as the price moved above $1,300.

Bitcoin

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bitcoin (B T c) climbed marginally above $19,000 on Saturday, as the market continued to digest this week’s increased levels of volatility.

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After hitting a low of $18,617.55 on Friday, the world’s largest cryptocurrency hit an intraday peak of $19,374.55 earlier today.

The move saw bitcoin climb above its key support point at $19,300, following a recent breakout that sent the price to a three-month low.

Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate After Weeks of Intense Volatility
B T c/USD – Daily Chart
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Looking at the charts, today’s session saw an early price rise as the 14-day Relative Strength Index (RSI) also moved higher, reaching resistance levels in the process.

Since hitting the roof of 44.10, B T c/USD price declined from earlier highs and is trading at $19,061.70 as of writing.

Should the intention be to take the oxen B T c Higher, potentially even above $20,000, would be needed to overcome this current hurdle on the RSI.


Ethereum

In addition to Bitcoin, Ethereum (ETH) has also had a turbulent week – one that saw the price fall as low as $1,220.

However, after reaching this point, which now appears to be a price floor, the coin has risen marginally in back-to-back sessions.

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

Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate After Weeks of Intense Volatility
ETH/USD – Daily Chart

As seen from the chart, the move came as its RSI also increased, reaching a high of 38.70 in today’s session.

Similar to Bitcoin above, this reading took the index to a resistance point, which has historically been an area where bears re-enter the market.

as of writing, ETH It is trading at $1,327.12 which is still up 3% from Friday’s floor.

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Credit : news.bitcoin.com

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