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Market News ETH Eyes a Return to $1,225 to Target $1,250 on Light Trading Volumes

ETH Eyes a Return to $1,225 to Target $1,250 on Light Trading Volumes

This morning, BTC and ETH are in the red. The pair will most certainly trade range-bound for another session due to holiday trading volumes, however.

Jimmy Khan

2022-12-26

244

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This morning, BTC and ETH are in the red. The pair will most certainly trade range-bound for another session due to holiday trading volumes, however.

On Saturday, Ethereum (ETH) increased by 0.08%. On Friday, ETH gained 0.16% and closed the day at $1,221. It was the sixth session in a row that ETH closed the day above $1,200.

ETH saw a rough day's start, dropping to a low of $1,214 by mid-morning. ETH surged to a high of $1,228 in the early evening, avoiding the First Major Support Level (S1) around $1,210. ETH dropped back to below $1,220 before closing the day at $1,221, albeit it fell short of the First Major Resistance Level (R1) at $1,228.

Bitcoin (BTC) increased by 0.37% on Saturday. BTC finished the day at $16,864, reversing a loss of 0.21% on Friday. Notably, BTC ended a three-day losing trend after failing to reach $17,000 for the fourth straight session.

In a bullish session, BTC increased from a low of $16,802 early on to a high of $16,891 in the late afternoon. BTC crept slightly to close the day at $16,864, but it fell short of the First Major Resistance Level (R1) at $16,922.