{"id":14843,"date":"2022-11-26T13:37:44","date_gmt":"2022-11-26T13:37:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/eth-surges-above-1200-to-start-the-weekend-market-updates-bitcoin-news\/"},"modified":"2022-11-26T13:37:44","modified_gmt":"2022-11-26T13:37:44","slug":"eth-surges-above-1200-to-start-the-weekend-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/eth-surges-above-1200-to-start-the-weekend-market-updates-bitcoin-news\/","title":{"rendered":"ETH Surges Above $1,200 to Start the Weekend \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Ethereum was back above $1,200 on Saturday, as bullish sentiment returned to cryptocurrency markets to start the weekend. Following recent stints in the red, the global crypto market cap is trading 1.91% higher as of writing. Bitcoin was also back in the green.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) was marginally higher to start the weekend, as prices moved closer to a key resistance level.<\/p>\n

Following a low of $16,456.65 on Friday, BTC<\/a>\/USD rose to an intraday high of $16,666.86 earlier in today\u2019s session.<\/p>\n

This move saw the world\u2019s largest cryptocurrency move closer to a ceiling of $16,800, which it last hit on November 18.<\/p>\n

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

Looking at the chart, Saturday\u2019s surge sent the token to a ceiling on the relative strength index (RSI) of 41.00.<\/p>\n

As of writing, the index is tracking at 40.00, following an earlier failed breakout attempt, which has since sent BTC<\/a> lower.<\/p>\n

Currently bitcoin is trading at $16,614.71, as earlier bulls moved to liquidate their positions.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) was over 3% higher on Saturday, with the token climbing back above its $1,200 level.<\/p>\n

ETH<\/a>\/USD raced to a peak of $1,222.81 to start the weekend, less than 24 hours after hitting a bottom of $1,184.87.<\/p>\n

Today\u2019s rally comes as the token extended its breakout of a key resistance level at the $1,180 mark.<\/p>\n

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

As can be seen from the chart, price strength also broke out of a ceiling, with the RSI moving past a hurdle at the 43.50 point.<\/p>\n

In addition to this, the 10-day (red) moving average has now fully shifted momentum, with the trend line no longer downward facing.<\/p>\n

Bulls are likely waiting for further shifts in momentum before adding on to the bullish pressure.<\/p>\n

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

Do you expect ethereum to hit $1,300 this weekend? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\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.

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

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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

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