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Bitcoin was slightly lower on Nov. 25 as markets returned to action after the Thanksgiving holiday in the United States. Overall, cryptocurrency markets were mostly in consolidation during today’s session, with global market capitalization up 0.12% at the time of writing. Ethereum was also largely unchanged, with the token hovering below $1,200.

Bitcoin

bitcoin (BTC) was virtually unchanged on Friday, as cryptocurrency markets consolidated, following the Thanksgiving holiday in the United States.

After a high of $16,641.32 on Thursday, BTC/USD fell to an intraday low of $16,388.40 earlier in today’s session.

Today’s decline ended a three-day winning streak, with BTC moving closer to a recent support point of $16,200.

BTC/USD – Daily Chart

Looking at the chart, this comes as the 14-day Relative Strength Index (RSI) failed to break out of a high at 41.00.

The index currently sits at 40.04 with neither bulls nor bears taking over market sentiment.

However, if the bulls manage to break out of the resistance point at 41.00, we could probably see BTC heading towards $17,000.

Ethereum

Ethereum (ETH) was again below $1,200 as the world’s second largest cryptocurrency also consolidated during today’s session.

ETH/USD fell to a low of $1,174.82 earlier in the day, less than 24 hours after hitting a high of $1,203.98.

Following this fall, ETH/USD slipped below support at $1,180. However, as the day progressed, the price rebounded.

ETH/USD – Daily Chart

Currently, Ethereum is trading at $1,196.60, with the RSI trailing at a level of 42.75, which is below a cap at 43.00.

On top of that, the 10-day moving average (red) is currently trending sideways, which seems like a positive signal that the recent downside pressure has eased, for now.

If this trendline starts to change, we might see more ETH bulls re-enter the market, in anticipation of an uptrend.

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could we see ETH reached $1,300 before the end of the month? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings an eclectic perspective to market analysis, having previously served as a brokerage director and retail educator. Currently, he acts as a commentator on various asset classes including Crypto, Stocks, and FX.




Image credits: Shutterstock, Pixabay, Wiki Commons

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