Home Finance Bitcoin rises above $24,000, while Ethereum approaches $1,800

Bitcoin rises above $24,000, while Ethereum approaches $1,800

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Bitcoin is up for a third straight session on Friday, with prices rising above $24,000 to end the week in the green. Today’s rise comes as sentiment in the crypto remains bullish following the Fed’s interest rate hike on Wednesday. Ethereum was also up, with ETH approaching $1,800.

Bitcoin

Bitcoin was trading higher for the third day in a row, with prices topping $24,000 in today’s session.

The world’s largest crypto-currency hit an intraday high of $24,294.79 earlier in the day. Friday’s high sees BTC hit its highest point since June 12, when prices were trading above $26,000.

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As a result of this move, bitcoin is now close to a long-term resistance level at $24,200, with some of the bulls opting to liquidate their positions at this level, with BTC now at $24,040.61.

While bulls are likely targeting a move to $25,000, they will have to overcome a 62 ceiling on the 14-day RSI in order to reach that point.

Ethereum

Like bitcoin, ethereum has extended its recent rise, climbing for a third consecutive session. This latest high saw ETH at $1,774.58, which comes less than 24 hours after the token traded at $1,604.89.

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This is the highest price for ethereum since June 10, when prices were trading at a high above $1,800.

However, like bitcoin, the earlier bullish momentum has given way as today’s session progressed, with the token now trading at $1,604.89.

The 14-day relative strength index failed to break through a ceiling at the 66 level, and thus fell to 63.72.

If the bulls want to reach their target of $1,800 by the end of next week, price strength will have to overcome this hurdle.

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