Bitcoin briefly moved back above $25,000 on Thursday as markets rallied from a volatile session the day before. The potential collapse of Credit Suisse was somewhat averted, after an intervention by the Swiss National Bank helped calm markets. Ethereum mostly consolidated in today’s session.
Bitcoin
bitcoin (BTC) rallied back above the $25,000 level in today’s session as market volatility eased, as the Swiss National Bank moved in to prevent the Credit Suisse collapse.
After a low of $23,964.91 on Wednesday, BTC/USD rose to an intraday high of $25,240.62 earlier in the day.
As a result of the move, bitcoin once again broke through a key resistance level in the $25,050 area.
In general, BTC it is now trading 15% higher from the same point last week, with the 14-day RSI at its strongest since February 20.
Currently, the index sits at 62.54, which is marginally below a point of resistance at the 65.00 mark.
This ceiling remains the main hurdle preventing bitcoin bulls from reaching a recent high of over $26,000 again.
Ethereal
ethereal (ETH), on the other hand, was mostly in the red, with prices dipping below the $1,700 mark.
ETH/USD hit a low of $1,616.63 earlier in today’s session, which comes after a high of $1,701.43 the day before.
As a result of today’s drop, the world’s second-largest cryptocurrency moved below a key ceiling at the point of $1,675.
Looking at the chart, the drop came as the RSI failed to break out of a resistance level at 60.00.
At the time of writing, price strength is now at 56.90, with the next visible point of support at 55.00.
Should bears land in this area, there is a high probability that they ETH it will trade below $1,600.
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Could Ethereum recover in the next few days? Leave your thoughts in the comments below.
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