Bitcoin As prices dropped below $17,000, the currency was stabilizing in preparation for the weekend. Cryptocurrency markets were processing the US’s latest jobs report. Ethereum Today’s session saw the price fall beneath a key resistance level, which was marginally lower.
Bitcoin
Bitcoin As the weekend neared, the BTC was consolidating. The Non-Farm Payrolls (NFP) report provided some insight.
Yesterday 263,000 jobs were added to the US economy, which surpassed the 200,000 expectations of the markets.
This Employment growth has left cryptocurrency traders uncertain about the future ahead of the Federal Reserve’s upcoming policy meeting.
BTC/USD dropped to $16,877.88 on the news, down from Friday’s high of $17.116.04.
The 14-day RSI is now at 52.16, close to a 52.00 floor.
The 10-day moving average (red), has now surpassed its 25-day counterpart, which points to a bullish trend.
Ethereum
Ethereum The red was also out (ETH). Saturday’s session saw the price of the world’s second-largest cryptocurrency dip below a key resistance level, a sign that the market is starting to recover.
Following an all-time high of $1,299.84 on Friday, ETH/USD fell to $1,275.09, an earlier low.
This decline means Ethereum has gone below its most recent peak of $1,285, despite a recent upside crossover with the 10-day and 25-day moving averages.
