ETH was back in green as markets reacted after Shadow Fork 9 was released. Bitcoin reached $20,000 on Friday after bulls returned following days of consolidation. BTC was up by over 5% in today’s session, with ETH not only back into the $1,100 region, but above $1,200.
Bitcoin
Bitcoin bulls, after struggling with market uncertainty for weeks, returned to action Friday and pushed prices much higher than $20,000.
The world’s largest crypto token rose to an intraday high of $20,981.99 in today’s session, as prices moved past a key resistance point.
BTC/USD was able to overcome its $20,070 ceiling earlier in today’s session, as it went on to hit its highest point all week.
As price strength overcame resistance at the 41.80 levels, this move was made. It is now at over 46 as of writing.
The indicator shows that the 48th limit is the maximum. If the RSI reaches this level, then we’ll likely see BTC trading exceeding $21,000.
Bulls may be trying to reach the $21,300 price level, which is a source of uncertainty these past weeks.
Ethereum
The percentage gains in ETH outpaced those of BTC and were made as the shadow fork was released.
Investors were buoyed by the news update, as bulls drove ETH/USD to an intraday peak of $1,225.06, seven days after nearly falling below $1,000.
Today’s surge in price has seen ethereum climb to its highest point since June 9, and now it’s on the cusp of colliding with a key resistance point.
The ceiling of $1,270 was in effect since June 13, 2013, when ETH dropped to $2,000. Bulls could be trying to change this.
Besides this, the price strength trend is higher with the 14 day RSI tracking at 51.23, its highest level in more than three months.
It looks like the next ceiling for RSI could be at 55. Should momentum continue climbing, ETH might continue moving towards $2,000.
Register here and get price analysis alerts sent directly to your email.
Is there any chance that ETH will continue to enjoy bullish momentum throughout the weekend. Please leave your comments.
Image creditShutterstock. Pixabay. Wiki Commons
DisclaimerThis article serves informational purposes. This is not an invitation to purchase or sell directly, nor a suggestion or endorsement of products, services or companies. Bitcoin.com doesn’t offer investment, tax or legal advice. The author and the company are not responsible for any loss or damage caused by the content or use of any goods, services, or information mentioned in the article.