Ethereum was back in the green on Friday, as bulls returned to action following yesterday’s selloff. Crypto markets set aside concerns over Tesla’s bitcoin sale, extending this week’s rally in the process. Bitcoin was also up in today’s session, as it headed back towards $24,000.
Bitcoin
Bitcoin (BTC) prices rose on Friday, as markets rebounded following yesterday’s Tesla-led selloff.
The world’s largest cryptocurrency climbed to an intraday high of $23,663.72 in today’s session, after dropping to $22,431.12 less than 24 hours ago.
Today’s move sees bitcoin move back towards its long-term resistance level at $24,300, which is a point it hit earlier this week.
Following today’s surge, price strength has once again collided with a ceiling of its own, two days after failing to overcome this obstacle.
This resistance is located at the 62-mark on the 14 day RSI (Relative Strength Index). It’s the highest level relative strength has seen in the last three months.
Bulls should finally get out from the level. Bitcoin will move up to $24,000 and possibly even towards $25,000.
Ethereum
Ethereum (ETH) also returned to the green as it rose toward a resistance price on Friday.
Following a low of $1,472.19 during yesterday’s session, ETH/USD raced to an intraday peak of $1,641.21 earlier today.
In less than 24 hours the token has increased by $200. This pushes it up to $1,640, which is a resistance level.
Looking at the chart, today’s peak is the highest point ethereum has traded since June 11, with the RSI also tracking at multi-month highs.
At the time of writing, it is at 68.55. If prices continue their uptrend, the RSI would have to reach 70.
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