Bitcoin, Ethereum Technical Analysis: ETH, BTC Surge Over 10% as Big 2 Lead Crypto Rebound
As LUNA’s life support was all but switched off on Friday, BTC and ETH rallied, with prices climbing by as much as 10%. Today’s price surge saw bitcoin climb above $30,000, with ETH once again trading above its $2,000 le...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
As LUNA’s life support was all but switched off on Friday, BTC and ETH rallied, with prices climbing by as much as 10%. Today’s price surge saw bitcoin climb above $30,000, with ETH once again trading above its $2,000 level.
Bitcoin
Bitcoin rebounded and was trading higher in today’s session, as markets recovered a bit from sell-offs earlier in the week.
Following a streak which saw it fall for seven of the last eight days, the world’s largest cryptocurrency was firmly in the green on Friday.
BTC/USD rose to an intraday high of $30,921.27 earlier in today’s session, with prices up by as much as 10% at the height of the rally.
Today’s surge comes after prices almost fell below $26,000 during yesterday’s stretch, which was the lowest level for BTC since late 2020.
Looking at the chart, it seems as though a price floor has been found, with the $28,860 point acting as a support, and it was at this level where today’s rally commenced.
As of writing, we are now trading at $30,727.01, which is 8.75% higher than yesterday’s low, with some bulls likely targeting a ceiling of $32,500 as an exit point.
ETH also moved away from multi-month lows on Friday, as prices were once again trading above the $2,000 level.
Following a low of $1,874.51 during Thursday’s session, the world’s second-largest token was up over 10% today, hitting a high of $2,128.34.
Similar to BTC, ethereum seemed to have found a floor of its own, using the $1,950 floor as a springboard to today’s rally.
Despite this surge in price, ETH/USD is still oversold, and is tracking around the 33 level, which is also a long-term resistance point.
Should this ceiling be broken, we might see bulls looking to move towards the $2,350 point, a level which some see as a ceiling in its own right.
Overall, ETH is still down over 20% in the last seven days, with BTC trading 15% lower in that same period.
Will these latest support points hold firm 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 (BTC) Price Today: $65K Support Under Pressure as Glassnode Maps $60K–$62K Liquidation Cluster
Glassnode’s futures liquidation heat map identifies a concentrated cluster of leveraged long positions between $60,000 and $62,000...
Bitcoin Price Falls 14% in a Week to $65,000 as Weekend Selling Breaks Friday’s Low
Bitcoin Magazine Bitcoin Price Falls 14% in a Week to $65,000 as Weekend Selling Breaks Friday’s Low Bitcoin price crashed about 1...
Lithium Market Outlook as $90,650 Spot Meets a Heavy ETF Resistance Wall in Q4
The Global X Lithium and Battery Tech ETF, on the other hand, dropped 2.64% to $59.46. This divergence indicates that there is not...
XRP Price Today: $0.98 Support Under Threat Despite Oversold RSI
Deeply oversold indicators suggest a possible relief bounce, but the broader technical structure remains bearish. The XRP price ha...
Bitcoin Price Today: Negative Funding Rates Signal Growing Bearish Bets as BTC Nears $68K
The latest data presents a mixed picture, however, as Hyperliquid whales have returned to net-long positions despite deteriorating...
U.S. Wholesale Inflation Hits 6.5%—What It Means for Bitcoin’s Next Move
Bitcoin’s inflation problem has a fresh complication. U.S. wholesale prices rose 6.5% over the year to October, their fastest annu...