Bitcoin was trading over $ 30,000 again as the market expected the release of a non-farm payrolls report in May. ETH continued to fall while BTC returned to the green, below $ 1,800 at the time of writing.
Bitcoin
BTC returned to the green on Friday as traders were preparing to release a non-farm payrolls report after prices fell on Thursday.
After adding 428,000 jobs in April, the market expects 325,000 jobs to be added to the US economy in May.
Speculation about what this number means for the market helped BTC today, with prices rising to a daytime peak of $ 30,633.03.
This will happen within 24 hours after some expected prices are expected to return to support at $ 28,800, following a bearish sentiment rise.
However, this sentiment has eased somewhat, and today’s soaring prices have helped lead the 10th and 25th moving averages to an upward crossover.
Nevertheless, due to the fact that Friday’s peak is at the $ 30,600 cap, it would be interesting to see if Bitcoin rises even higher today.
Ethereum
BTC returned to the green on Friday, but the same couldn’t be said about ETH, which fell further in today’s session.
After falling below $ 1,900 on Thursday, ETH / USD continued to fall to a intraday low of $ 1,789.66 earlier today.
This is about 1.3% lower than yesterday’s peak of $ 1,845.31 and prices continue to approach the new support point of $ 1,715.
Unlike Bitcoin, which rose in today’s session, ETH has not yet seen an upward cross between the two moving averages, but there is still a considerable distance between them.
As the gap between the moving averages narrowed, $ 1,715 could fall towards this floor, which was the last hit on May 28, and some think the Bulls chose to enter there.
At the time of writing, ETH is trading at $ 1,795, but prices may fluctuate further as we approach the release of NFP.
Do you think ETH will reach support points this weekend? Please leave your thoughts in the comments below.
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