ETH, BTC consolidation continues on Saturday, as traders prepare for the next market trend.
were mainly unchanged to start the weekend, as market activity slowed, mainly due to the Easter holiday. Price consolidation comes after a week of bearish pressure that sent the world’s two largest cryptocurrencies towards key support levels.Bitcoin was once again trading marginally above the $40,000 level on Saturday, as markets remained quiet as a result of the Easter break./USD rose to an intraday peak of $40,618.84 to start the weekend, following a low of $40,009.09 earlier in the session.
Recent price consolidation comes following a two-week streak which saw bitcoin lose close to $10,000 from its value.Typically, following a bullish or bearish trend within a relatively short span of time, markets will consolidate, as they prepare for either an extension of the initial move, or a change of direction.
Looking at the chart, the 14-day RSI continues to track below a key resistance level at 44, which seems to be the main hurdle preventing a resurgence ofIf recent sentiment continues, we may see some further declines back towards $39,600 prior to any upcoming extended gains.was also mainly unmoved during Saturday’s session, as the world’s second-largest cryptocurrency was tracking close to its price support./USD only marginally rose, hitting a peak of $3,046.20 as of writing.
This peak is around 0.49% higher than yesterday’s low, and sees price once again fail to make any significant gains following losses during the week.
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