Bitcoin prices rose to $24,000 on Friday for the third straight session. Today’s rise comes as sentiment in crypto remains bullish, following Wednesday’s interest rate hike by the Fed. Ethereum prices reached $1,800, which also drove the price higher.
Bitcoin (BTC) was trading higher for a third straight day, as prices climbed over $24,000 in today’s session.
The world’s largest cryptocurrency hit an intraday peak of $24,294.79 earlier in the day, which comes after BTC was at a low of $22,722.27 on Thursday.
Friday’s high sees BTC/USD hit at its highest point since June 12, when prices were trading over $26,000.
The result is that bitcoin now meets a $24,200 long-term resistance level. Some bulls earlier in the year decided to exit their positions.
The token is now at $24,040.61 (as of this writing).
Bulls are likely to target a move to $25,000 but they must overcome a ceiling at 62 on their 14-day RSI to get there.
Like bitcoin, Ethereum (ETH) has extended its winning streak and is now higher than ever before.
The latest high was $1,774.58 for ETH/USD, which is less than 24 hours after $1,604.89.
This price was higher than the $1,800 that prices had traded for in June 10th.
However, like bitcoin, earlier bullish momentum has given way as today’s session has progressed, with the token now trading at $1,604.89
The 14-day relative weakness index was unable to breach the ceiling at 66, so it has fallen to 63.72.
Price strength must rise above this threshold if bulls want to achieve their $1,800 target this weekend.
Register here and get price analysis alerts sent directly to your inbox every week.
What will the weekend bring? Comment below to share your views.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.