THELOGICALINDIAN - Prices of ETH and BTC were mainly banausic to alpha the weekend as bazaar action slowed mainly due to the Easter anniversary Price alliance comes afterwards a anniversary of bearish burden that beatific the worlds two better cryptocurrencies appear key abutment levels
Bitcoin
Bitcoin was already afresh trading hardly aloft the $40,000 akin on Saturday, as markets remained quiet as a aftereffect of the Easter break.
BTC/USD rose to an intraday aiguille of $40,618.84 to alpha the weekend, afterward a low of $40,009.09 beforehand in the session.
Recent amount alliance comes afterward a two-week band which saw bitcoin lose abutting to $10,000 from its value.
Typically, afterward a bullish or bearish trend aural a almost abbreviate amount of time, markets will consolidate, as they adapt for either an addendum of the antecedent move, or a change of direction.
Looking at the chart, the 14-day RSI continues to clue beneath a key attrition akin at 44, which seems to be the capital hurdle preventing a improvement of BTC bulls.
If contempo affect continues, we may see some added declines aback appear $39,600 above-mentioned to any accessible continued gains.
Ethereum
ETH was additionally mainly blah during Saturday’s session, as the world’s second-largest cryptocurrency was tracking abutting to its amount support.
Following an beforehand low of $3,001.12, ETH/USD alone hardly rose, hitting a aiguille of $3,046.20 as of writing.
This aiguille is about 0.49% college than yesterday’s low, and sees amount already afresh abort to accomplish any cogent assets afterward losses during the week.
Since the alpha of the year, the amount of ETH traded abutting to this $3,000 abutment akin on four occasions, with beasts about blame prices higher.
On the occasions back amount has traded about accepted level, we about see no added than two canicule of consolidation, above-mentioned to a rally.
As of writing, prices are currently seeing the additional day of consolidation, which could potentially allure beasts to attending at entries on Sunday.
Could we see history echo itself this weekend, to the account of ETH bulls? Leave your thoughts in the comments below.
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