On Thursday, bitcoin briefly moved above $25,000 as the market rebounded from a volatile session the previous day. The possible collapse of Credit Suisse was somewhat averted following the intervention of the Swiss National Bank, which helped calm the market. Ethereum mostly consolidated in today’s session.
Bitcoin
Bitcoin (BTC) re-climbed above the $25,000 level in today’s session as the Swiss National Bank’s move to prevent Credit Suisse’s collapse eased market volatility.
Following Wednesday’s low of $23,964.91,BTC/USD rose to an intraday peak of $25,240.62 during the day.
As a result of this move, bitcoin once again broke through key resistance in the $25,050 zone.
Overall,BTCis now up 15% from the same point last week, with the 14-day Relative Strength Index (RSI) at its strongest point since February 20.
The index is currently hovering at 62.54, just below the resistance point of 65.00.
This ceiling is the main obstacle preventing bitcoin bulls from surging toward recent highs above $26,000.
Ethereum
Meanwhile, Ethereum (ETH) was mostly in the red as its price fell below the $1,700 mark.
ETH/USD hit a low of $1,616.63 in today’s session, following a high of $1,701.43 the previous day.
As a result of today’s decline, the world’s second-largest cryptocurrency moved below a key ceiling at the $1,675 mark.
The chart shows that the RSI did not break through the 60.00 resistance level, which led to a decline.
As of this writing, price strength is currently at 56.90, with the next support point at 55.00
If a bear lands in this zone,is likely; ETHwill trade below $1,600.
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