Bitcoin
While BTC opened the weekend trading below this week’s high of $48,278, bulls sought to regain this level by moving away Friday’s lows.
After the report on nonfarm payrolls, BTC dropped to $44,846.26 Friday. However, prices rose to $47,028.28 Saturday.
This is a good move as yesterday’s uncertainty has diminished, which gives bulls more reason to re-enter market.
After yesterday’s false breakout at $45,000 support, the price of BTC has rebounded. This led to a continuation of bullish sentiment today.
The chart shows that the 14-day RSI also showed this. A breakout of the 62.60 resistance occurred earlier in the day.
This could be a reason for bulls to try to break the $48,300 resistance and possibly target $50,000.
Ethereum
BTC wanted to recapture the week’s high but Ethereum began the weekend with its peak four months earlier.
The second-largest cryptocurrency in the world is up more than 6% today, climbing to $3,509.18.
This price rally saw ETH/USD reach its highest point since January 6. It comes as markets finally move past a troubled ceiling.
The resistance in the chart is the $3,440 level, which was the primary obstacle to the price rising further.
Price strength is also showing some momentum as the 14-day RSI reached its highest point since Wednesday.
Prices are now above 70. However, the $3,440 resistance is gone and prices may rise further.
