Bitcoin, Ethereum Technical Analysis: ETH, BTC Rebound After Fed Minutes
Bitcoin (BTC) moved above the $24,000 area on Thursday as cryptocurrency markets rebounded minutes after the latest Federal Market Open Committee announcement.
Bitcoin hit a high of $24,572.09 earlier in the day after hitting a low of $23,644.32 on Wednesday. Simultaneously this high resulted in the world’s largest cryptocurrency breaking out of the key resistance level of $24200 and this rebound also came in the form of the 14-day Relative Strength Index (RSI), which bounced off its own bottom at 59.00. Was. Currently the index is definitely tracking a reading of 59.90 while in addition it is visible at 66.00 area with the next visible point of resistance and with this we can say that Bell is trying to reach this level. And there is a strong possibility that bitcoin will trade above $25000.
Ethereum ( ETH ) went back in the green in today’s session and after yesterday’s tough conditions, today’s price shows us near $17000. In the very first day, Ethereum managed to reach a peak of $1,674.60, which comes after hitting a low of $1,604.80 on Wednesday, and after this move, we can say that Ethereum has closed its long $1675 high. The period has been crossed and with that the bullish pressure has reduced or is no longer there. After reaching this earlier high, the price now appears to be in a definite downside and Ethereum is now trading at $1,665.75. This of course coincides with the Relative Strength Index indicator running at a barrier as the 57.00 resistance point and the index is tracking at 56.10 at the time of writing.