Bitcoin, Ethereum Technical Analysis: ETH Breaks Resistance to Hit 9-Day High

Bitcoin and ETH some roseate to nine-day highs connected Wednesday, arsenic bulls continued to propulsion prices higher pursuing yesterday’s rebound. BTC moved into the $42,000 level aft breaking a cardinal absorption point, portion ETH besides climbed beyond its ain ceiling of $3,150.

Bitcoin

BTC roseate for a 3rd league connected Wednesday, arsenic bulls continued to propulsion prices higher, pursuing a selloff during the Easter weekend.

The world’s largest cryptocurrency is present up by implicit $3,000 since Monday’s debased of $38,551, and arsenic of writing, is implicit 3% higher connected the day.

Today’s terms surge raced to an intraday highest of $42,126.30, which is its highest constituent since April 11.

BTC/USD – Daily Chart

This follows connected from yesterday’s bottommost of $40,575, and comes arsenic the semipermanent absorption of $41,175 was broken.

Looking astatine the chart, the 10-day moving mean has begun to displacement direction, pursuing a caller downward trend.

If this momentum has yet shifted, we could commencement to spot much and much bulls return, and perchance propulsion terms towards the upcoming absorption of $42,600.

Ethereum

In summation to BTC, ethereum besides gained for a 3rd consecutive session, arsenic terms continues to determination distant from the caller enactment of $2,950.

Following a debased of $3,054.56 connected Tuesday, ETH/USD surged to an intraday precocious of $3,157.89 during today’s session.

This precocious saw the world’s second-largest cryptocurrency determination past its caller terms ceiling of $3,150, hitting its highest level since past Monday arsenic a result.

ETH/USD – Daily Chart

Looking astatine the chart, absorption of 49.90 wrong the Relative Strength Index (RSI) was besides broken, with terms spot present tracking astatine a ten-day high.

Price spot is present tracking astatine 51, with bulls looking to perchance instrumentality this to the ceiling of 55, which could crook retired to beryllium a two-week high.

If this were to occur, it is apt that we volition spot ETH/USD trading astatine $3,300.

Can ETH deed this absorption anterior to the extremity of the week? Leave your thoughts successful the comments below.

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