Bitcoin rose for the third consecutive session on Friday, with prices ending the work week above $24,000. Today’s gains indicate that crypto sentiment remains bullish in the wake of Wednesday’s Fed rate hike. Ethereum was also higher as prices approached $1,800.
Bitcoin
Bitcoin (BTC)is trading higher for the third straight day, with prices rising above $24,000 in today’s session.
The world’s largest cryptocurrency recorded an intraday peak of $24,294.79 earlier today, which comes afterBTCwas at a low of $22,722.27 on Thursday.
Friday’s high was, while BTC/USD hit its highest point since June 12, when prices were trading above $26,000.
As a result of this move, bitcoin has now hit a long-term resistance level of $24,200, with some previous bulls choosing to liquidate their positions
This has resulted in a temporary decline in the previous momentum, and as of this writing, the token is currently sitting at $24,040.61.
The bulls are likely targeting a move to $25,000, but to reach this point, the 14-day RSI ceiling of 62 will need to be overcome.
Ethereum
Like Bitcoin,Ethereum (ETH)extended its recent winning streak, rising three consecutive sessions in the process.
This latest high sawETHrise to $1,774.58, less than 24 hours after the token was trading at $1,604.89.
This was Ethereum’s highest price since June 10, when the price traded above $1,800.
However, as with Bitcoin, the earlier bullish momentum disappeared as today’s session progressed, with the token now trading at $1,604.89
However, as with Bitcoin, the previous bullish momentum is gone as today’s session progresses and the token is now trading at $1,604.89.
For the bulls to reach their target of $1,800 later this week, price strength will need to surge past this hurdle.
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