Bitcoin, Ethereum Technical Analysis: BTC Surges to $45,000, as Russia Considers Accepting the Crypto for Oil & Gas

Bitcoin moved past its $45,000 terms ceiling, aft it was reported that the Russian authorities was considering accepting it arsenic outgo for energies. The quality sent BTC to a 24-day high, whilst ETH besides climbed to a five-week peak.

Bitcoin

BTC was trading astir 5% higher connected Friday, arsenic markets reacted to the quality that Russia was considering accepting it arsenic outgo for lipid and gas.

Following a debased of $42,753.56 during Thursday’s session, BTC/USD climbed to an intraday precocious of $45,046.08 connected Friday.

This is the highest terms bitcoin has deed successful 24 days and comes pursuing a breakout of the $42,500 absorption level.

BTC/USD – Daily Chart

Friday’s rally sees bitcoin prices ascent for the 4th consecutive session, gaining implicit 11% successful that clip period.

The determination pushed terms spot beyond its ain ceiling, arsenic the 14-day RSI moved past its absorption level of 62.33, and present tracks astatine 63.83.

Should this tally continue, and BTC determination beyond $46,000, it would scope its highest level successful astir 4 months.

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Ethereum

ETH was not to beryllium near down connected Friday, arsenic the world’s second-largest cryptocurrency besides surged to a multi-week high.

Ethereum climbed to an intraday precocious of $3,183.96 during today’s session, which is the highest constituent astatine which it has traded since February 10.

Today’s gains means that ETH has present climbed for 11 of the past 12 sessions, gaining implicit 15% wrong that period.

ETH/USD – Daily Chart

Looking astatine the chart, should this bullish spot persist, we could beryllium looking astatine $3,300 arsenic the terms ceiling.

However, the RSI present tracks astatine 66.6, arsenic it continues to hover successful overbought territory, which could beryllium an obstacle to further gains.

Could we spot further highs this play for some ETH and BTC? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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