Bitcoin moved towards the $31,000 mark on Friday, ahead of upcoming US retail sales data. Sales are expected to remain flat, while general consumer confidence is forecast to rise to 62.7, from a reading of 62.0. Ethereum extended recent gains, hitting an eleven-month high in the process.
Bitcoin
bitcoin (BTC) was back in the green on Friday, as traders pushed the price close to the $31,000 mark.
BTC/USD reached a high of $30,848.46 earlier in today’s session, a day after trading as low as $30,160.59.
The move has resulted in Bitcoin hitting its strongest point since June 7, when it peaked at $31,549.
Overall, this recent spike in momentum has sent the RSI deep into overbought territory.
As of this writing, the index sits at 72.18, which is marginally higher than a peak at 72.
If the index breaks above the 73.00 reading, it is very likely that BTC It will trade past $31,000.
Ethereal
ethereal (ETH) continued to climb higher, following its recent Shapella update, with its price tag topping $2,100.
After a low of $1,987.05 on Thursday, ETH/USD moved to a high of $2,126.32 earlier in today’s session.
As a result of today’s price surge, the world’s second-largest cryptocurrency reached its highest level since last May.
The latest rally took place when the bulls broke a key resistance level of $2,030, with the RSI crossing a hurdle of its own at the 72.00 mark.
as with BTC, ETHThe RSI of is also overbought, with the index reading 75.29 at the time of writing.
A higher ceiling at 80.00 now awaits the current bulls in the market.
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