Bitcoin
On Thursday, BTC climbed to its highest level since March 3. This was due to the third consecutive day of gains in prices for the largest cryptocurrency in the world.
After trading at $41,812 as of Wednesday, Bitcoin/USD surged to $43,231.29 in Thursday’s session.
This is the highest bitcoin price in 21 days. It follows a breakout at the $42,500 resistance level.
The recent bullish momentum in Bitcoin is a result of traders seemingly moving past market uncertainty after Biden’s executive orders and the Fed rate decision.
If the trend continues upward, the $45,050 resistance level could be a price target for bulls.
The upcoming 61.65 ceiling for the 14-day RSI indicator is one obstacle that could hinder this.
Ethereum
The price drop yesterday did not continue into Thursday for Ethereum, as ETH rose again above the $3,000 mark.
Ethereum traded at $3,067.99 in today’s session. This is its highest intraday trading point since February 17.
This five-week-high comes as the 14 day RSI’s ceiling of 59.73 was broken for the first-time since February 9.
The chart shows that if bullishness continues, bulls could look to $3,260 for their next target in terms of profit taking.
Bears could see this as a good time to enter the market, however, given that prices are currently too high relative to other times.
