Ethereum Bulls aim for $1,800 this weekend

Ethereum hit a new three-week high in early trading on Saturday, but gains have tapered off as the day has progressed. The token continues to trade above $1,700 as market sentiment remains bullish. Bitcoin had a similar day, with the token slowly losing steam after failing to break through a key resistance level.


Bitcoin continued to trade above $21,000 on Saturday, but yesterday’s bullish momentum faded slightly. BTC hit a high of $21,613.86 earlier in today’s session, but prices then fell to an intraday low of $20,651.06.

The drop came as the token was unable to break through its $21,600 resistance point as bears fought the move.

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Technical analysis of bitcoin, ethereum: ETH targets $1,800 this weekend.
BTC – Daily chart

Looking at the chart, the decline comes as the 14-day relative strength index (RSI) appears to be colliding with a clean resistance level at 55.40.

At the time of writing, bitcoin is trading at $21,356.34 as momentum slowly returns. However, until the RSI breaks through the aforementioned ceiling, we won’t see any further upside.

In addition, the 10-day moving average (red) is now about to cross its 25-day counterpart (blue). This could be another catalyst for further gains in price.


Ethereum was mostly up to start the weekend, as the token broke through a resistance level of its own. On Saturday, the world’s second-largest token hit a high of $1,739.43. This occurred as prices broke through a ceiling of $1,700.

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There have been a few declines since the earlier high. ETH is currently trading at $1,721.15.

Technical analysis of bitcoin, ethereum: ETH targets $1,800 this weekend.
ETH – Daily Chart

As with bitcoin, it appears that the bulls chose to close out previous positions and secure profits as market uncertainty increased. From the chart, it appears that the 14-day RSI has played a role in this volatility, with the index holding at 58.00, which is close to a ceiling of 60.00.

The bulls continue to target $1,800, but to reach that point, price strength will have to overcome its next hurdle.

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