Skip to main content

Bitcoin, Ethereum Technical Analysis: ETH Breaks Resistance to Hit 9-Day High

Bitcoin and ETH both rose to nine-day highs on Wednesday, as bulls continued to push prices higher following yesterday’s rebound. BTC moved into the $42,000 level after breaking a key resistance point, while ETH also climbed beyond its own ceiling of $3,150.

Bitcoin

BTC rose for a third session on Wednesday, as bulls continued to push prices higher, following a selloff during the Easter weekend.

The world’s largest cryptocurrency is now up by over $3,000 since Monday’s low of $38,551, and as of writing, is over 3% higher on the day.

Today’s price surge raced to an intraday peak of $42,126.30, which is its highest point since April 11.

This follows on from yesterday’s bottom of $40,575, and comes as the long-term resistance of $41,175 was broken.

Looking at the chart, the 10-day moving average has begun to shift direction, following a recent downward trend.

If this momentum has finally shifted, we could start to see more and more bulls return, and potentially push price towards the upcoming resistance of $42,600.

Ethereum

In addition to BTC, ethereum also gained for a third consecutive session, as price continues to move away from the recent support of $2,950.

Following a low of $3,054.56 on Tuesday, ETH/USD surged to an intraday high of $3,157.89 during today’s session.

This high saw the world’s second-largest cryptocurrency move past its recent price ceiling of $3,150, hitting its highest level since last Monday as a result.

Looking at the chart, resistance of 49.90 within the Relative Strength Index (RSI) was also broken, with price strength now tracking at a ten-day high.

Price strength is now tracking at 51, with bulls looking to potentially take this to the ceiling of 55, which could turn out to be a two-week high.

If this were to occur, it is likely that we will see ETH/USD trading at $3,300.

Can ETH hit this resistance prior to the end of the week? Leave your thoughts in the comments below.



from Bitcoin News https://ift.tt/xqcIFsB
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