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Bitcoin and Ethereum After the US Non-Farm Report

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Ethereum moved closer to the $1,300 level on December 2, with the price remaining at a multi-week high. It comes as the latest non-farm payrolls report showed that 263,000 jobs were added to the US economy. The market expects it to come in at 200,000. Bitcoin was trading above $17,000 before the data was released.

Bitcoin

Bitcoin (BTC) is once again trading above the $17,000 level, following today’s US Nonfarm Payrolls (NFP) report. It is expected that today’s data will show the addition of 200,000 jobs in the US economy, which would have been lower than the October figure of 260,000. However, the number was better than expected, at the level of 263,000. BTC/USD hit a high of $17,197.50 ahead of the news, which comes less than a day after the price hit a low of $16,888.39.

As the chart shows, the session came as the price fell above the key resistance level of $16,800, and the Relative Strength Index (RSI) was hovering near the ceiling. The index is currently moving at 48.68, which is slightly below the stop point of 50.00, which seems to be the main obstacle to the continuation of the initial gains.

The bull will continue to bullish despite this, with the 10-day creep (red) approaching its high cross at 25 days (blue).

bitcoin and ethereum

Ethereum

Like BTC, Ethereum (ETH) rose on Friday, as the coin continued to approach the $1,300 mark.

Following a low of $1,267.71 on Thursday, ETH/USD hit an intraday high of $1,293.11 earlier in today’s session. Friday’s move sees the global cryptocurrency’s second rally near its recent resistance of $1,300, but the asset has yet to break above that point.

This comes despite the fact that the 10-day moving average (red) appears to have slightly exceeded its 25-day (blue). If this crossover continues in the higher direction, not only will ETH break above the $1,300 key, but it will probably fall for the higher level of $1,390.

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