Skip to main content

Bitcoin, Ethereum Technical Analysis: ETH Recaptures Fresh 1-Month High

Ethereum rebounded during Thursday’s session to recapture the $3,000 level, climbing to a fresh one-month high in the process. This comes as BTC rose back above $43,000, hitting a 20-day high as a result.

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.

After trading at a low of $41,812 on Wednesday, BTC/USD rallied to a peak of $43,231.29 during Thursday’s session.

This is the highest price bitcoin has hit in 21 days and comes following a breakout of the $42,500 resistance level.

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.

Should we see the upward trend continue, the $45,050 resistance point could be a potential price target for bulls.

However, one of the hurdles that could come in the way of this is the upcoming 61.65 ceiling on the 14-day RSI indicator.

.

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 five-week high comes as the 14-day RSI saw its ceiling of 59.73 broken for the first time since February 9.

Looking at the chart, should this bullish strength persist, we could be looking at $3,260 as the next point bulls look towards, in terms of taking profits.

However, with prices currently overbought, relatively speaking, there could be some bears looking at this as an opportune time to enter the market.

Will we see today’s rise in ETH sustain for the rest of the session? Leave your thoughts in the comments below.



from Bitcoin News https://ift.tt/4xmXlCS
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more