{"id":32795,"date":"2022-10-22T12:54:35","date_gmt":"2022-10-22T12:54:35","guid":{"rendered":"http:\/\/egrowonline.com\/?p=32795"},"modified":"2022-10-22T12:54:35","modified_gmt":"2022-10-22T12:54:35","slug":"eth-back-above-1300-to-start-the-weekend-market-updates-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=32795","title":{"rendered":"ETH Back Above $1,300 to Start the Weekend \u2013 Market Updates Bitcoin News"},"content":{"rendered":"


\n<\/p>\n

\n
\n<\/header>\n
\n\"\"\n<\/div>\n

Ethereum was once again trading above $1,300, as cryptocurrency prices rose to start the weekend. Markets were back in the green on Saturday following a volatile week, which came as the U.S. dollar continued to strengthen. Bitcoin also surged higher, moving back above $19,000.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) rose back above $19,000 on Saturday, as cryptocurrency markets climbed higher to start the weekend.<\/p>\n

Earlier in today\u2019s session BTC<\/a>\/USD rallied to an intraday high of $19,237.39, which comes less than a day after hitting a low of $18,770.97.<\/p>\n

Today\u2019s peak sees the token move away from its recent support point of $18,900, following a false breakout in yesterday\u2019s session.<\/p>\n

\"Bitcoin,<\/a>
BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, the rebound in price has also pushed the 14-day relative strength index (RSI) higher, and it\u2019s now moving towards a resistance point of its own.<\/p>\n

As of writing, the index is tracking at the 46.35 point, which is marginally below a resistance level of 48.00.<\/p>\n

Should we see this ceiling broken, then BTC<\/a> bulls could be one step closer to recapturing the $20,000 mark.<\/p>\n

Ethereum<\/h2>\n

Ethereum was also trading higher to start the weekend, as the token surged following a turbulent week of trading.<\/p>\n

Following a move to a low of $1,260.67 on Friday, ETH<\/a>\/USD was back above $1,300 on Saturday, hitting a peak of $1,306.71 in the process.<\/p>\n

Like with bitcoin above, today\u2019s surge saw ethereum bounce from a key support of $1,270, and it is now on course to hit a resistance level.<\/p>\n

\"Bitcoin,<\/a>
ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

The aforementioned ceiling is the $1,330 point, which hasn\u2019t been hit since Tuesday, when bearish pressure moved the price below this point.<\/p>\n

Bullish sentiment seems to be returning, however, with the RSI now tracking at 45.90, which is marginally below a ceiling of 46.00.<\/p>\n

If momentum remains upward-focused we will likely see this point broken this weekend, and the token once again above $1,330.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Where do you expect to see ether land this weekend? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

\n
\n\n<\/div>\n
\n
\nEliman Dambell <\/h6>\n

\nEliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> 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 caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n