Bitcoin moved above the $31,000 mark on Friday ahead of retail sales data to be released from the US. Sales are expected to be flat, while overall consumer sentiment is expected to rise from 62.0 to 62.7. Ethereum extended its recent rally, hitting an 11-month high in the process.
Bitcoin (BTC) was green again on Friday as traders pushed prices closer to the $31,000 mark.
BTC/USD ran up to a peak of $30,848.46 earlier in the session today after trading as low as $30,160.59.
The move brings bitcoin to its strongest point since peaking at $31,549 on June 7.
All in all, this recent surge in momentum has pushed the Relative Strength Index (RSI) deep into overbought territory.
At the time of this writing, it is hovering at 72.18, just above its peak of 72.
If the index moves above the 73.00 reading, there is a very good chance thatBTCwill trade above $31,000.
Ethereum (ETH) continued to climb, with prices soaring above $2,100 following a recent chaperone update.
After Thursday’s low of $1987.05,ETH/USD moved to a peak of $2,126.32 earlier today’s session.
As a result of today’s price surge, the world’s second-largest cryptocurrency hit its highest level since last May.
The rally occurred as the bulls broke through key resistance at $2,030 and the RSI crossed the hurdle of 72.00.
Similar toBTC, ETHthe RSI is also overbought, showing a value of 75.29 at the time of writing.
A high of 80.00 awaits the current bulls.
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