ETH rises above $ 1,200 when latest Shadow Fork goes live – market updates Bitcoin news
ETH was back in the green when the markets reacted to the release of Shadow Fork 9. Bitcoin was well over $ 20,000 on Friday, when bulls returned to the crypto market after several days of consolidation. BTC increased by over 5% in today’s session, with ETH not only returning to the $ 1100 region, but over $ 1200.
Bitcoin
After battling uncertainty in the market all week, the bitcoin bulls returned to action on Friday, pushing prices well above $ 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 major resistance point.
BTC / USD was able to overcome the $ 20,070 ceiling earlier in today’s session, as it continued to reach its highest point all week.
The move came when the price strength finally overcame its own resistance at the 41.80 level, and at the time of writing it is over 46.
If we look at the indicator, the next cap is at 48. Should the RSI reach this point, we will probably look at BTC trading above $ 21,000.
Overall, bulls may try to target the $ 21,300 price point, which has been a source of uncertainty in recent weeks.
Ethereum
At a percentage level, the increase in ETH was even stronger than BTC, and came when the last shadow fork went live.
The news of the update boosted traders, with bulls pushing ETH / USD to an intraday high of $ 1,225.06, days after nearly falling below $ 1,000.
Today’s price increase has seen that ethereum has climbed to its highest point since June 9, and now it is on the verge of colliding with an important resistance point.
This $ 1270 ceiling has been in place since June 13, when ETH was down from $ 2000. However, bulls may be looking to break this.
In addition to this, the price strength is currently trending higher, with 14-day RSI tracking at the 51.23 level, which is the highest point in over three months.
The next ceiling for the RSI looks like it could be around 55, and should momentum continue to climb, ETH may continue to move back towards $ 2000.
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Will this bullish momentum for ETH continue through the weekend? Leave your thoughts in the comments below.
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