Bitcoin, Ethereum Technical Analysis: BTC Above $18,000, ETH Hits 2-Month High

Bitcoin roseate to a four-week precocious connected Thursday, arsenic terms surged supra $18,000 hours earlier the upcoming U.S. ostentation report. This comes arsenic galore expect today’s figures to amusement a sizeable driblet successful user prices. Ethereum besides moved higher, climbing supra $1,400 successful the process.

Bitcoin

Bitcoin (BTC) surged supra $18,000 connected Thursday, arsenic markets prepared for a further driblet successful U.S. user prices.

BTC/USD raced to an intraday precocious of $18,268.55 earlier successful today’s session, little than 24 hours aft trading astatine a debased of $17,337.99.

Today’s determination saw bitcoin ascent to its strongest constituent since December 14, erstwhile prices were astatine a highest of $18,385.

BTC/USD – Daily Chart

Looking astatine the chart, the rally took spot arsenic the 14-day comparative spot scale (RSI) continued to determination deeper into overbought territory

As of writing, the scale is present tracking astatine 75.98, which is its highest people since October 2021.

Depending connected this afternoon’s ostentation rate, determination could beryllium a reversal successful BTC, arsenic earlier momentum whitethorn person already peaked.

Ethereum

Ethereum (ETH) was besides importantly higher successful today’s session, with prices moving to a two-month high.

Following a debased of $1,323.58 connected Wednesday, ETH/USD jumped to a highest of $1,408.13 earlier successful the day.

As a effect of this rally, the world’s 2nd largest cryptocurrency is present trading astatine its strongest presumption since November 8.

ETH/USD – Daily Chart

Like with bitcoin earlier, the determination has occurred arsenic the RSI broke retired of a ceiling astatine 69.00, and it is presently tracking astatine 75.89.

In summation to this, the 10-day (red) moving mean has continued its upwards crossover versus its 25-day (blue) counterpart.

Should this momentum support this trajectory, past the adjacent people for bulls volition apt beryllium a ceiling of $1,470.

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