Bitcoin, Ethereum Technical Analysis: BTC Rebounds From 2-Month Low, as Bulls Enter the Market
Bitcoin bounced back from a near two-month low on Saturday, as bulls moved in to buy the recent dip in price. Saturday’s move came as the cryptocurrency rebounded from a recent support point, after yesterday’s breakout....
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Bitcoin bounced back from a near two-month low on Saturday, as bulls moved in to buy the recent dip in price. Saturday’s move came as the cryptocurrency rebounded from a recent support point, after yesterday’s breakout. Ethereum was also higher, climbing above $1,800.
BitcoinBitcoin (BTC) moved away from a recent two-month low on Saturday, as bulls opted to buy the recent dip.
After falling to a low of $25,878.43 on Friday, BTC/USD rose to an intraday high of $26,989.07 earlier in the day.
Today’s rebound sees bitcoin jump back above a key support point at $26,500, following Friday’s breakout.
From the chart, it appears that this took place as the 14-day relative strength index (RSI) found a floor of its own at 36.00.
At the time of writing, price strength is tracking at 37.99, with a ceiling at 43.00 a possible target.
Should bulls lead the charge to this point, it is likely that bitcoin will be back above the $27,000 level this weekend.
EthereumEthereum (ETH) was back above a key price level to start the weekend, as it once again rose above the $1,800 mark.
ETH/USD hit a peak of $1,816.06 in today’s session, less than 24 hours after declining to a low at $1,747.94.
Bulls have seemingly taken yesterday’s move to a multi-week low as an opportune moment to increase position sizes in ETH.
Like with BTC, this was helped by the fact that RSI found a stable point of support, which in the case of ethereum was at the 41.00 zone.
From the floor, price strength is now tracking close to a ceiling at 45.00, and should this be broken, ETH will possibly move back above a key point at $1,830.
Register your email here to get weekly price analysis updates sent to your inbox:
Could ethereum and bitcoin continue to climb this weekend? Leave your thoughts in the comments below.
Why this matters
This ethereum story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
Bitcoin’s weekend rebound faces an $80,400 test after nearly $730 million in ETF outflows
Bitcoin traded near $82,900 in PerpFinder’s Oct. 10, 09:36 UTC snapshot, with traders watching whether the weekend rebound brings...
XRP Price Prediction: Elliott Wave Setup Points to $3 as XRP Nears a Potential $2 Breakout
XRP Price Prediction: Elliott Wave Setup Points to $3 as XRP Nears a Potential $2 Breakout XRP is approaching a critical technical...
AI Could Weaken Ethereum Security as Cryptographic Risks Grow, Vitalik Buterin Warns
Buterin urged developers to prepare for potential AI vulnerabilities in both conventional and quantum-resistant cryptography, whil...
STRK rallies as Starknet weighs a move from Ethereum layer 2 to its own layer 1
Starknet's potential shift to layer 1 could redefine blockchain security priorities, challenging Ethereum's timeline and reshaping...
Bitcoin Price Prediction: Can BTC USD Hold $82K Ahead of Next Week’s CPI Drop?
Bitcoin price prediction notes a brief recovery on Saturday, October 10, but the market remains poised for a weekly loss as rising...
Being right about Bitcoin won’t save your 3x leveraged ETF position
Bitcoin's next recovery could vindicate your investment thesis but leave your leveraged fund deep in the red, because the fund's d...