Bitcoin, Ethereum Technical Analysis: BTC up to $42,550 Ceiling, as Bullish Momentum Continues 

BTC was erstwhile again trading higher, arsenic bullish momentum extended during today’s marketplace session. Bitcoin roseate to its highest level successful eleven days, breaking absorption of $42,500 successful the process. ETH was besides up, hitting a ten-day high.

Bitcoin

BTC climbed higher for a 4th consecutive day, pushing the world’s largest cryptocurrency past a cardinal absorption level earlier today.

After a bottommost of $40,961.10 during Wednesday’s session, BTC/USD raced to an intraday highest of $42,709.75 earlier successful the day.

This is the highest constituent bitcoin has reached since April 10. However, connected that juncture prices fell towards the $40,000 level.

BTC/USD – Daily Chart

As of writing, momentum connected this juncture seems to beryllium bullish, with the 10-day moving mean present upward facing, which typically signifies an incoming terms surge.

If specified a surge were to occur, the people for bulls volition apt beryllium the $44,800 ceiling, which hasn’t been deed since April 6.

Price spot has besides precocious breached retired of a ceiling of 50.35, and seems to beryllium trying to recapture the 55 level. This could beryllium capable to nonstop the terms to $44,800 if it transpires.

Ethereum

ETH has besides recorded its 4th consecutive higher high, with prices contiguous besides moving past a semipermanent absorption point.

Following a mendacious breakout of the $3,150 ceiling yesterday, prices went connected to autumn to a debased of $3,045.29 connected hump-day.

However, Thursday saw this breakout yet sustained, with ETH/USD rallying to a precocious of $3,166.33.

ETH/USD – Daily Chart

Today’s highest is the highest ETH has traded astatine since April 11, and comes arsenic the 14-day RSI has besides risen to a precocious of its ain of 12 days.

Price spot is present tracking astatine 52.85, with the 55.15 ceiling intelligibly the adjacent constituent of involvement for existent ETH bulls.

As we said yesterday, should this ceiling beryllium deed we volition apt spot ETH hovering adjacent the $3,300 level, with immoderate adjacent eyeing the $3,500 point.

What is down this caller bullish sentiment successful crypto markets? Leave your thoughts successful the comments below.

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