Friday, June 2, 2023

Bitcoin returned to the $28,000 level on Saturday, as traders reacted to news that 236,000 new jobs were created in the U.S. last month. Ethereum also gained some ground at the start of the weekend.

Bitcoin Powered to $28K Despite Unexpected Drop in Job Numbers

Bitcoin (BTC) went up again above $28,000 on Saturday. This happened because of the news about how many people had gotten jobs in the last month being slightly lower than what people were expecting. The price of Bitcoin rose to a highest point of $28,159.86 during today’s session after dropping as low as $27,824.15 yesterday.

The chart shows that the price of something is going up. To make this happen, the number 58.00 on a Relative Strength Index (RSI) had to go up – and now it’s 59.07. This means that the 10-day (red) moving average and its 25-day (blue) counterpart are not falling as quickly as they would have otherwise.

Right now, whatever this “thing” is being traded at costs $28,024.28 each.

Ethereum Recovers, But Will the Streak Continue?

Today, Ethereum (ETH) started the day with an increase in price attempting to go back to the $1,900 mark. It had gone down to a low of $1,845.99 on Friday, but it ended up recovering and spiking to $1,879.11 at the beginning of the weekend. This meant it broke its two-day losing streak and stayed above the bottom of $1,830. Despite this slight boost in price, ETH’s strength still stays below a support point of 61.00.

Right now, the ethereum price is showing a number of 60.42 on its 14-day RSI chart. If that number increases above $1,900, then we can expect the ethereum prices to rise.

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What do you think? Will ethereum continue going strong this weekend or not? Let us know in the comments section below.

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