Bitcoin, Ethereum Technical Analysis: ETH Heads Towards $1,200 Breakout on Saturday

Bitcoin, Ethereum Technical Analysis: ETH Heads Towards $1,200 Breakout on Saturday


Ethereum was once again nearing a breakout of its $1,200 level, as bearish sentiment returned to start the weekend. Following price rebounds on Friday, cryptocurrency markets were back in the red, and are trading 0.68% lower as of writing. Bitcoin also slipped in today’s session.

Bitcoin

Bitcoin (BTC) was once again trading lower to start the weekend, as the token moved back towards a recent price floor.

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BTC/USD fell to an intraday low of $16,564.61 in today’s session, which comes less than a day after hitting a high of $16,795.20.

The move sees BTC move closer to this week’s support point of $16,000, which has been in place since the FTX collapse.

Looking at the chart, today’s drop in price comes as a hurdle was

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