Bitcoin, Ethereum Technical Analysis: ETH Ends 4-Day Losing Streak, BTC Briefly Above $28,000
Bitcoin ( BTC ) briefly hovered above the $28,000 level on Thursday evening, as market volatility increased ahead of today's nonfarm payrolls report.
BTC/USD peaked at $28,091.86 towards the end of yesterday's session, before slipping to a bottom of $27,375.60 earlier in the day.
Prices have since recovered, with the world's largest cryptocurrency now trading at $27,649.56 at the time of writing.
BTC pulled back from yesterday's high after the relative strength index (RSI) failed to sustain a surge above the key resistance level of 60.00.
The index is currently at 58.95, but there may be another attempt to surpass 60.00 in the coming hours.
If the next bull run is successful, there is a high probability that bitcoin will trade above $28,000 again.
Ethereum
Ethereum ( ETH ) returned to the green zone in today's session, after four consecutive days of trading lower.
After hitting a one-week low of $1,608 on Thursday, ETH/USD rose to a peak of $1,649.13 the previous day.
This happened because buyers chose to re-enter the market after a break below the support point at the $1,620 level.
The previous gains faded somewhat, as ETH approached the upper limit near the 50.00 level on the RSI indicator.
Currently, price strength is at 48.93, with ethereum trading at $1,634, and bulls maintain a target of $1,700 in the short term.
