Ethereum moves past $3,000 to start the weekend –

After a week of consolidation, both Bitcoin and Ethereum prices rallied above key resistance levels to start the weekend. Bitcoin rose above $40,000 while Ethereum climbed above $3,000.

Bitcoin

Cryptocurrencies were higher to start the weekend as markets appear to have put recent bearish sentiment behind them.

The largest cryptocurrency in the world Bitcoin (BTC) became even more valuable on Saturday as it broke above its $40,000 resistance level.

Bitcoin /USD hit an intraday high of $41,729.43 during Saturday's trading session as markets continue to react to yesterday's nonfarm payrolls report.

The move came after Bitcoin's 14-day RSI finally broke above its recent hurdle of 40, which has been held for most of the year.

As of writing, the RSI is currently at 55.67, the highest level since November 15th when prices traded above $60,000.

The move has brought the 10-day and 25-day moving averages closer together, but a cross has still not formed.

If this happens at some point, we might look into it Bitcoin Trading closer to $50,000.

ether

Ethereum (ETH) rose for the third consecutive day as the world's second-largest cryptocurrency rose to a 2-week high.

ETH /USD climbed to a high of $3,032.66 on Saturday after rising as much as 7% in the past 24 hours and nearly 20% over the past week.

At the time of writing, ETH has found resistance at the RSI level of 54.40, which coincided with the slowdown in bullish momentum at a ceiling of $3,015.

Heading into the weekend, traders will likely watch the moving averages to see if both short- and medium-term momentum could continue to swing higher.

What could be the next resistance level? ETH /US DOLLARS? Leave your thoughts in the comments below.

Eliman Damell

Eliman brings a diversified perspective to market analysis, having worked as a brokerage director, retail educator and market commentator in crypto, stocks and forex.

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