Bitcoin, Ethereum Technical Analysis: BTC, ETH Both Hit Fresh 1-Month Highs, as Bullish Pressure Intensifies

Bitcoin prices surged connected hump day, arsenic the token climbed towards the $24,000 level successful today’s trading session. The determination came arsenic bullish unit intensified, pursuing respective days of caller gains. Ethereum besides remained higher, erstwhile again climbing supra $1,600.

Bitcoin

Bitcoin (BTC) extended its caller gains connected Wednesday, arsenic prices roseate towards the $24,000 level successful today’s session.

The world’s largest cryptocurrency surged to an intraday highest of $23,759.76 connected hump day, which is its highest constituent since June 13.

Wednesday’s caller five-week precocious comes arsenic terms spot increased, breaking retired of a cardinal absorption level successful the process.

Looking astatine the chart, this ceiling connected the 14-day RSI of 56.7 was breached successful the past 24 hours, starring to an influx of caller bulls.

This determination besides comes arsenic the 10-day and 25-day moving averages yet crossed, with some gauges of momentum moving successful an uptrend.

As of writing, the RSI is tracking astatine 62, which has historically been a absorption point, and should this past repeat, we whitethorn spot today’s gains statesman to ease.

Ethereum

Like yesterday, ethereum (ETH) was erstwhile again trading supra $1,600, arsenic bullish sentiment remained successful the token.

Following a debased of $1,517.16 successful Tuesday’s session, ETH/USD roseate to a precocious of $1,602.13 connected hump day.

Today’s highest saw the token commercialized astatine its highest constituent since June 11, and comes arsenic bulls present look acceptable to propulsion prices person towards $2,000.

This whitethorn beryllium challenging, arsenic terms spot presently looks arsenic though it is overbought, with the 14-day RSI tracking astatine 68.35.

Overall, this is the highest speechmaking for the scale since April 4, and unless this ceiling is broken, the determination towards $2,000 volition beryllium connected clasp for now.

A cardinal absorption of $1,645 is connected the horizon, and should prices neglect to determination past this point, bears could look to reenter.

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Could ethereum deed $2,000 successful July? Leave your thoughts successful the comments below.