ETHreturned to the green as the market reacted to the release of shadow fork 9. Bitcoin was well above $20,000 on Friday as bullishness returned to the crypto market after several days of consolidation. BTCrose over 5% in today’s session, as didETH, with ETHnot only back in $1,100 territory, but also above $1,200.
Bitcoin
After battling market uncertainty all week, bitcoin bulls resumed activity on Friday, pushing the price 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 above a key resistance point.
BTC/USD overcame the $20,070 ceiling early in today’s session and went on to make new highs for the week.
Price strength has finally overcome resistance at the 41.80 level, with a reading above 46 at the time of writing
Looking at the indicators, the next ceiling is at 48; if the RSI reaches this point, we will likely seeBTCtrading above $21,000.
Overall, the bulls may be trying to target the $21,300 price range, which has been a source of anxiety in recent weeks.
Ethereum
In percentage terms,ETHhas risen even more thanETHETH has strengthened even more than BTCalso rose, as didETHas the latest shadow fork went live.
News of the update delighted traders and bulls pushedETH/USD to an intraday high of $1,225.06 after nearly falling below $1,000.
Today’s price surge took Ethereum to its highest level since June 9 and it is now on track to hit a key resistance point.
This $1,270 ceiling has been in place since June 13, whenETHwas on its way down from $2,000. However, bulls may be looking to break it.
In addition to this, price strength is currently on the rise, with the 14-day RSI at the 51.23 level, its highest level in over 3 months.
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