June 30, 2023 4:55 PM | 3 min read
Bitcoin (CRYPTO: BTC) was volatile during Fridays 24-hour trading session, popping up over 2% higher, thendropping over 3% lower before settling flat by the afternoon despite Americans showing high interest in the crypto.
Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE) were showing comparative strength, rising about 4% over Thursdays closing price.
While the general market has moved higher since June 26, the crypto space has been consolidating mostly sideways after Bitcoin and Ethereum surged over 21% and over 16%, respectively, between June 15 and June 21.
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Since the beginning of 2023, Bitcoin has skyrocketed about 83% and Ethereum has surged 61%. Dogecoin, on the other hand, is trading down about 6% from its Jan. 1 opening price of 7 cents.
As the second half of the year begins on Saturday, traders and investors will be watching to see how the apex cryptocurrencies trade over the weekend, which could help to indicate how the stock market will trade after the fourth of July, when most of Wall Street returns to the desk.
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The Bitcoin Chart: Bitcoin has been trading in a slight downtrend since June 23, but on Friday, the crypto negated the trend by forming a higher high. If Bitcoin closes the trading day near flat, the crypto will form a doji candlestick, which indicates indecision.
The Ethereum Chart: Like Bitcoin, Ethereum has also been trading sideways but on Friday, the crypto was attempting to break up from the pattern. If Ethereum closes the 24-hour trading session near its high-of-day, the crypto will form a bullish Marubozu candlestick, which could indicate higher prices will come on Saturday.
The Dogecoin Chart: Dogecoin negated its downtrend on Friday by rising above the most recent lower high, which was formed on Wednesday at $0.065. The crypto was also attempting to print a hammer candlestick, which could indicate higher prices are on the horizon this weekend.
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2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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