{"id":15309,"date":"2022-12-09T14:23:00","date_gmt":"2022-12-09T14:23:00","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-eth-rebound-on-friday-following-volatile-week-of-trading-bitcoin-news\/"},"modified":"2022-12-09T14:23:00","modified_gmt":"2022-12-09T14:23:00","slug":"btc-eth-rebound-on-friday-following-volatile-week-of-trading-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-eth-rebound-on-friday-following-volatile-week-of-trading-bitcoin-news\/","title":{"rendered":"BTC, ETH Rebound on Friday, Following Volatile Week of Trading \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

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

Bitcoin was back in the green on Friday, with prices once again moving above the $17,000 level. Cryptocurrencies were mostly higher in today\u2019s session, as prices rebounded from recent losses. Ethereum also surged earlier in the day, climbing closer to the $1,300 level.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) climbed higher in today\u2019s session, with the coin surging back above the $17,000 level.<\/p>\n

Following a low of $16,788.78 on Thursday, BTC<\/a>\/USD raced to an intraday high of $17,274.60 earlier in the day.<\/p>\n

The move saw bitcoin rally beyond its resistance level at $17,200, hitting a five-day high in the process.<\/p>\n

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

Looking at the chart, BTC<\/a> has since retreated from earlier highs, as bullish momentum faded soon after the breakout.<\/p>\n

As of writing, the relative strength index (RSI) is now tracking at 50.93, which is marginally below a ceiling at 52.00.<\/p>\n

Should the index continue to move higher, then the next target for bulls will likely be the $17,600 point.<\/p>\n

Ethereum<\/h2>\n

In addition to bitcoin, ethereum (ETH<\/a>) also edged higher in today\u2019s session, with prices rebounding from recent losses.<\/p>\n

ETH<\/a>\/USD moved to a peak of $1,286.23 on Friday, less than 24 hours after trading at a low of $1,227.50 during Thursday\u2019s session.<\/p>\n

As a result of today\u2019s move, the coin neared a key resistance level of $1,305, rising to its highest point since Monday in the process.<\/p>\n

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

Currently, it appears as though ethereum bulls are targeting a move beyond the $1,300 mark, however a ceiling on the RSI seems to be in the way.<\/p>\n

As of writing, the index is tracking at 52.00, which has also been a key point of resistance in the past.<\/p>\n

Bulls would need to overcome this hurdle first, in order to send prices towards the targeted $1,300 level.<\/p>\n

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

What has been behind today\u2019s rebound in cryptocurrency prices? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\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