Bitcoin rose for a third consecutive session on Friday, as prices rose above $24,000 to end the work week. Today’s rise comes as sentiment in crypto remains bullish, following Wednesday’s interest rate hike by the Fed. Ethereum was also higher, as prices approached $1,800.
Bitcoin (BTC) was trading higher for a third straight day, as prices climbed over $24,000 in today’s session.
The world’s largest cryptocurrency hit an intraday peak of $24,294.79 earlier in the day, which comes after BTC was at a low of $22,722.27 on Thursday.
Friday’s high sees BTC/USD hit at its highest point since June 12, when prices were trading over $26,000.
As a result of this move, bitcoin has now collided with a long-term resistance level at $24,200, with some earlier bulls opting to liquidate their positions.
For this reason, previous momentum has momentarily fallen, with the token now sitting at $24,040.61 as of writing this.
Although bulls will likely be targeting a move towards $25,000, they will need to overcome a ceiling of 62 on the 14-day RSI in order to reach this point.
Like bitcoin, ethereum (ETH) extended its recent winning streak, climbing higher for a third consecutive session in the process.
This latest high saw ETH/USD rise to $1,774.58, which comes less than 24-hours after the token was trading at $1,604.89.
This was the highest price for ethereum since June 10, when prices were trading at a high above $1,800.
derimot, like bitcoin, earlier bullish momentum has given way as today’s session has progressed, with the token now trading at $1,604.89
Which comes as the 14-day relative strength index failed to break out of a ceiling at the 66 level, and subsequently has now fallen to a reading of 63.72.
If bulls are to reach their target of $1,800 this upcoming weekend, price strength will need to surge beyond this hurdle.
Register your email here to get weekly price analysis updates sent to your inbox:
Will bullish sentiment in crypto markets remain this weekend? Leave your thoughts in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Maximumhorrors.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.