As investors move to secure gains following recent market highs Bitcoin It started the weekend consolidated. The global market capitalization remains largely unchanged today. Additionally, it was trading 0.06% lower at press time. Ethereum also fell after reaching a one-month high on Friday.
Bitcoin
Bulls preferred to profit from their recent gains. Therefore, BTC fell from its ten-day high today.
BTC/USD fell to $26,721.76 earlier in the day. Additionally, it hit a low of $27,075.94 less than 24 hours later.
The move occurred as the bulls failed to sustain a fresh break above the $27,100 level.
Zooming in on the chart, an unsuccessful break of the 58.00 resistance level in the relative strength index (RSI) also contributed to the decline. Price strength is currently hovering at 56.24, marginally above the 55.00 ceiling.
The bulls will likely make another move towards $27,000 this weekend despite today’s price consolidation.
Ethereum
Ethereum (ETH) has been on the rise this week, climbing to a one-month high in Friday’s session.
These gains were erased as ETH/USD fell to $1,657.68 earlier in the day, after reaching $1,681.79 the previous day.
This move brought the 10-day (red) moving average to a intersection with its 25-day (blue) counterpart.
Although the momentum is strongly bullish, it is possible that the 61.00 ceiling on the RSI will pose a hurdle for traders looking to push ETH towards $1,700.
Currently the index is at 60.01. Additionally, ETH is trading slightly below the $1,680 price zone.