Bitcoin was slightly higher to start the weekend, as the bulls were able to fight Friday’s volatility. The price of the world’s largest coin surged above $22,000 in the first session, while ETH continues to trade above $1,200.
BTC was trading marginally in the green on Saturday as the coin traded above $22,000 in today’s session.
After Friday’s low of $21,257.45, BTC/USD rose to an intraday peak of $22,010.64 to start the weekend.
The move saw bitcoin again attempt to break its resistance at $22,070, although as in yesterday’s session, the bears have so far resisted the break.
It continues to trade below its own ceiling at the 48.80 level as a result of the 14-day RSI trading.
However, once we see a move beyond this point, it is likely that an influx of bulls will help the price firm clear this hurdle.
In the same regard, the bears have a history of regaining momentum around this area, so we may be looking at a price consolidation of uncertainty.
ETH started the weekend in consolidation as the coin price remained near the $1,200 area on Saturday.
After starting the day trading at a peak of $1,248.01, the world’s second largest cryptocurrency fell to a floor of $1,200.63 earlier today.
At the time of writing, there has been a slight increase in price, ETH/USD is now trading at $1,210.96.
After attempting to break its $1,295 range on Friday, price uncertainty has mounted, with bears now pushing the coin lower.
So far, this volatility has not sent the price below the $1,200 mark, although should it continue, we can see ETH moving lower towards the $1,150 low.
Will ETH drop below $1,200 by the end of the week? Give your thoughts in the comment below.
image credit: Shutterstock, Pixabay, WikiCommons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation or recommendation or endorsement of an offer to buy or sell 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 alleged to be caused by or in connection with the use or reliance on any content, goods or services mentioned in this article.