Bitcoin rose for a third straight session on Friday as prices surged above $24,000 to end the work week. Today’s rise comes as crypto sentiment remains bullish, following Wednesday’s interest rate hike by the Fed. Ethereum was also higher, with prices approaching $1,800.
Bitcoin
Bitcoin (BTC) was trading higher for a third day in a row as prices climbed over $24,000 in today’s session.
The world’s largest cryptocurrency hit an intraday peak of $24,294.79 earlier today, which comes after BTC was at a low of $22,722.27 on Thursday.
Friday high sees BTC/USD hit its highest level since June 12, when prices traded above $26,000.
Following the move, bitcoin has now collided with a long-term resistance level at $24,200 as some previous bulls opted to liquidate their positions.
Due to this, the previous momentum has momentarily dropped, with the token now sitting at $24,040.61 at the time of this writing.
Although the bulls will likely be targeting a move towards $25,000, they will need to overcome a ceiling of 62 on the 14-day RSI to reach that point.
Ethereum
Like bitcoin, Ethereum (ETH) extended his recent winning streak, climbing higher for a third consecutive session in the process.
That last high saw ETH/USD rises to $1,774.58, which comes less than 24 hours after the token traded at $1,604.89.
This was the highest price for Ethereum since June 10, when prices were trading above $1,800.
However, like bitcoin, the prior bullish momentum has broken down as today’s session progressed, with the token now trading at $1,604.89.
Which comes as the 14-day Relative Strength Index failed to break above a high at the 66 level, and then fell to a reading of 63.72.
If the bulls are to reach their target of $1,800 this coming weekend, price strength will need to overcome this hurdle.
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Will the bullish sentiment in the crypto markets stick around this weekend? Leave your thoughts in the comments below.
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