Ethereum rebounded during Thursday’s session to recapture the $3,000 level, climbing to a fresh one-month high in the process. BTC surged above $43,000 to hit a 20 day high.
Bitcoin
On Thursday, BTC rose to its highest level since March 3, as prices of the world’s largest cryptocurrency gained for a third consecutive day.
On Wednesday, the BTC/USD traded at $41,812 and then rallied to $43,231.29 on Thursday.uring Thursday’s session.
This price is bitcoin’s highest in 21 days. It follows a break of the $42,500 resistance.
Recent bullish momentum in BTC has come as traders seem to have moved past the market uncertainty following Biden’s executive order, in addition to the Fed rate decision.
Bulls could target the $45,050 resistance mark if the uptrend continues.
However, there is a potential hurdle in this process: the upcoming 61.65 ceiling of the 14-day RSI indicators.
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Ethereum
Yesterday’s drop in prices did not carry forward into Thursday for ethereum, as ETH once again rose above the $3,000 level.
Ethereum climbed to an intraday high of $3,067.99 during today’s session, which is the highest point it has traded since February 17.
This 5-week peak comes just as the 14 day RSI’s ceiling of 59.73 was broken for the first times since February 9.
If this bullish trend continues, then we might see $3,260 being the next level bulls can look at in terms profit-taking.
The current overbought market could make it a favorable time for bears to invest in the stock.
Will we see today’s rise in ETH sustain for the rest of the session? Please leave your comments.
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