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Bitcoin and Ethereum Technical Analysis 26th of February
Both bitcoin and ethereum were higher to begin the weekend, as markets appear to have discounted recent turmoil. BTC briefly surpassed the $40,000 mark, while ETH moved closer to $2,800.
Bitcoin
As of this writing, cryptocurrency markets are up more than 3% on Saturday, with bitcoin trading close to 1% higher to begin the weekend.
This follows a low of $38,416.53 yesterday, with BTC/USD reaching an intraday high of $40,005.35 earlier in the day.
BTC broke beyond the important $40,000 milestone on Saturday, but the advance was short-lived as profit takers likely exited their positions owing to the present market danger.
According to the chart, the 14-day RSI is now above its long-term ceiling of 44 and approaching the 45 level.
BTC is presently trading below its recent resistance level of $39,500, as the 10-day moving average’s momentum continues to deteriorate.
However, if price strength remains above resistance, bulls may be looking for a way out at $41,500.
Ethereum
ETH prices were also higher to begin the weekend, with markets approaching long-term barrier of $2,900.
