Ethereumย (ETH) was onceย more trading over the $1,800 level, after a brief breakout during Thursdayโs session. Prices rose by as much as 2%, as optimism grew that the Unitedย States debt ceiling mayย be increased. Bitcoinย (BTC) likewise marginally climbed, moving away from yesterdayโs two-week low.
Bitcoin
Bitcoinย (BTC) (BTC) rose slightly higher on Friday, as prices moved away from a recent two-week low.
Following a low of $25,890.59 on Thursday, BTC/USD rose to a peak at $26,591.52 earlier in the day.
The move saw Bitcoinย (BTC) (BTC) onceย more goย up over a levelย ofย support at the $26,300 level, which has been in place duringย theย previous few weeks.
Regardlessย of this latest rebound, BTC remained almost 2 percent lower than at the same point pastย week. For bulls, a positive sign comes in the form of the 14-day relative strength index (RSI), which failed to break out of a floor at 39.00
The last time breakout tookย place was back on March 10, which led to BTC sliding below the $20,000 mark.
Ethereum
Ethereumย (ETH) (ETH) rose back over the $1,800 mark on Friday, after dropping to a multi-week low of its own yesterday.
ETH/USD hit a high of $1,817.16 earlier in todayโs session, which comes a day after the price dropped to a bottom at $1,788.29.
Becauseย ofย todayโs slight rebound, the 10-day (red) moving average is now firmly on the verge of crossing its 25-day (blue) counterpart.
The chances of this occurring come as price strength onceย more bounced from support at 44.00, leading to a reentry of longstanding bulls.
As of writing this, the index is now tracking at 46.39, with theย following visible resistance level at 51.00.
Should momentum continue to goย up, thereย is a good chance that ETH could hit $1,900 this coming weekend.
