Bitcoin, Ethereum Technical Analysis: BTC Surges Above $24,000 to 6-Month High
Bitcoin (BTC) hit a 6-month high on Thursday as its price climbed above $24,000 for the first time since August. This latest move comes as the Federal Reserve hiked interest rates by 25 basis points at its latest meeting and resulted in bitcoin/USD hitting its intraday high of $24,167.21 and more than 24-hour highs. We saw it trading as low as $22,877.75 in the short term and Thursday’s surge saw the world’s largest cryptocurrency climb to its highest point since August 16 when prices peaked at $24,448. had reached This was reflected as the 14-day Relative Strength Index (RSI) moved away from the recent low of 68.00 and is now tracking at 74.10. Should the price consolidate along this path, the resistance level of ₹77.00 will be a target for the current bulls.
If we talk about other major cryptocurrencies, Ethereum also appeared to post profit in the last 24-hours as traders pushed its price near $1,700 mark and on Wednesday we can get that low of $1,566.86. Later, ETH /USD rose to a peak of $1,689.07 in today’s session. Definitely price get on this rally ethereum climbing to its fairest price since 12th dec and ethereum had reached top of $1761 today and looking at evening can get that it is a 5 month high The school was on as Ethereum broke its long-term price range at $1,670 followed by another bout of resistance and Ethereum is rapidly turning the other way, with the Relative Strength Index (RSI) nearing the 68.00 range.
Currently, the index is tracking at 65.19 considering profit taking before the full bump.
