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Bitcoin, Ethereum Technical Evaluation: BTC as much as $42,550 Ceiling, as Bullish Momentum Continues 

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BTC was as soon as once more buying and selling greater, as bullish momentum prolonged throughout right this moment’s market session. Bitcoin rose to its highest degree in eleven days, breaking resistance of $42,500 within the course of. ETH was additionally up, hitting a ten-day excessive.

Bitcoin

BTC climbed greater for a fourth consecutive day, pushing the world’s largest cryptocurrency previous a key resistance degree earlier right this moment.

After a backside of $40,961.10 throughout Wednesday’s session, BTC/USD raced to an intraday peak of $42,709.75 earlier within the day.

That is the very best level bitcoin has reached since April 10. Nonetheless, on that event costs fell in direction of the $40,000 degree.

As of writing, momentum on this event appears to be bullish, with the 10-day shifting common now upward dealing with, which generally signifies an incoming value surge.

If such a surge had been to happen, the goal for bulls will probably be the $44,800 ceiling, which hasn’t been hit since April 6.

Value energy has additionally lately damaged out of a ceiling of fifty.35, and appears to be making an attempt to recapture the 55 degree. This might be sufficient to ship the worth to $44,800 if it transpires.

Ethereum

ETH has additionally recorded its fourth consecutive greater excessive, with costs right this moment additionally shifting previous a long-term resistance level.

Following a false breakout of the $3,150 ceiling yesterday, costs went on to fall to a low of $3,045.29 on hump-day.

Nonetheless, Thursday noticed this breakout lastly sustained, with ETH/USD rallying to a excessive of $3,166.33.

Right this moment’s peak is the very best ETH has traded at since April 11, and comes because the 14-day RSI has additionally risen to a excessive of its personal of 12 days.

Value energy is now monitoring at 52.85, with the 55.15 ceiling clearly the following focal point for present ETH bulls.

As we mentioned yesterday, ought to this ceiling be hit we’ll probably see ETH hovering close to the $3,300 degree, with some even eyeing the $3,500 level.

What’s behind this current bullish sentiment in crypto markets? Go away your ideas within the feedback beneath.

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