Bitcoin price was largely unchanged in Friday’s session, as traders prepared for the weekend. After a strong start to the week, crypto prices have mostly consolidated in recent days. ETH was once again trading near the $1,750 support.
Bitcoin
After a strong start to the week with BTC reaching highs near $32,000, the price has consolidated, trading slightly below $30,000.
So far in Friday’s session, BTC was once again lower, as it continued to trade under this level, reaching an intraday low of $29,732.91 in the process.
This low comes as the price continued to trade below the $30,500 resistance level this week, and instead moved closer to support at $29,500.
Despite these recent declines, bitcoin is still up about 1% from the same point last week, when the price was trading below $29,000.
Moreover, the 14-day RSI is yet to break its floor of 45, which means that the bulls are still waiting for an ideal time to re-enter the market.
The 10-day EMA is still on a downside, with a downside cross likely, although a bullish wave should begin, we could see a change in sentiment.
Ethereum
ETH was trading below $1,800 once again on Friday as prices declined for the fourth consecutive session.
Although the decline has been modest, this bearish momentum means that Ethereum is struggling to move above $1,800 this week.
At the time of writing, ETH/USD fell to a low of $1,761.05 in today’s session, which comes less than 24 hours after the peak at $1,812.90.
Despite this, if we look at the last seven days, we will see that there has been a marginal increase of 0.33% in the prices.
This means that despite the bearish sentiment trying to break below this point, ETH continued to trade above the $1,750 support level.
Moreover, if the RSI continues to stay above its floor at 38, we could see ETH recovering some of its upward momentum.
Do you expect this $1,750 floor to be broken by the end of this week? Give your thoughts in the comment below.
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