BTC Climbs Above $24,000, As ETH Approaches $1,800 – Market Updates Bitcoin News
Bitcoin rose for a third straight session on Friday, as prices surged above $24,000 to end the work week. Today’s rally comes as crypto sentiment remains bullish, following Wednesday’s Fed rate hike. Ethereum was also higher, as prices approached $1,800.
Bitcoin
Bitcoin (BTC) traded higher for a third straight day as prices climbed above $24,000 in today’s session.
The world’s largest cryptocurrency hit an intraday high of $24,294.79 earlier in the day, which comes after BTC hit a low of $22,722.27 on Thursday.
Friday’s top sees BTC/USD reach its highest point since June 12, when prices traded above $26,000.
As a result of this move, bitcoin has now collided with a long-term resistance level of $24,200, with some former bulls choosing to liquidate their positions.
For this reason, previous momentum has momentarily fallen, with the token now sitting at $24,040.61 at the time of writing.
Although bulls will likely aim for $25,000, they will need to overcome a ceiling of 62 on the 14-day RSI to reach this point.
Ethereum
Like bitcoin, ethereum (ETH) extended its recent winning streak, climbing higher for a third straight session in the process.
This latest high saw ETH/USD rise to $1,774.58, which comes less than 24 hours after the token traded at $1,604.89.
This was the highest price for ethereum since June 10, when prices traded at a high above $1,800.
However, like bitcoin, previous bullish momentum has given way as today’s session has unfolded, with the token now trading at $1,604.89
Which comes as the 14-day RSI failed to break out of a ceiling at the 66 level, and has since fallen to a reading of 63.72.
If bulls are to reach the $1,800 target this coming weekend, price strength will need to increase beyond this hurdle.
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Will the bullish sentiment in the crypto markets remain this weekend? Leave your thoughts in the comments below.
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