Ethereum fell from a 7-month high March 24, as traders reacted to further uncertainty within the European banking sector. Shares in Deutsche Bank fell by as much as 13% in today’s session, following a spike in the cost of credit default swaps. Bitcoin briefly moved above $28,000 on the news.
Bitcoin
Bitcoin ( BTC ) was back above $28,000 on Friday, as fears of further banking collapses pushed traders towards cryptocurrencies.
Following a low of $27,359.25 on Thursday, BTC /USD raced to an intraday peak of $28,729.84 earlier in today’s session.
The move came as the cost of insuring against a bank default spiked, leading to a resurgence of market uncertainty.

Bitcoin chart by TradingView

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"symbol": "BITSTAMP:BTCUSD",
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Overall, BTC has since slipped from earlier highs. However, prices are still higher than Thursday’s bottom.
As of writing, bitcoin is trading at $27,658.96, which comes as the relative strength index (RSI) dropped below a key floor at 65.00.
Currently, the index is tracking at 64.15, with the next visible point of support at the 60.00 mark.

Ethereum
Ethereum ( ETH ) briefly traded above the $1,800 level in today’s session, prior to colliding with a key resistance level.
ETH /USD rose to a peak of $1,853.89 late on Friday, which came following a prior low of $1,745.02.
This surge sent ETH to its strongest point since last August, pushing prices marginally above a ceiling at $1,850 in the process.

Ethereum chart by TradingView

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"width": "100%",
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"symbol": "BITSTAMP:ETHUSD",
"interval": "D",
"timezone": "Etc/UTC",
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ETH bulls were unable to sustain this breakout, which has since given way to bears looking to short the market.
At the time of writing, ethereum is trading at $1,761.72, with the momentum of the moving averages still upwards facing.
This sentiment may soon shift, should the RSI break out of a floor at 56.00. The index is currently tracking at 56.62.
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Will ethereum fall below $1,700 this weekend? Leave your thoughts in the comments below.