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Bitcoin and Ethereum Technical Analysis 24th of March
Ethereum recovered to reclaim the $3,000 mark during Thursday’s session, soaring to a new one-month high in the process. This comes after BTC reclaimed the $43,000 level, setting a new 20-day high in the process.
Bitcoin
BTC reached its highest level since March 3 on Thursday, as the world’s biggest cryptocurrency’s values increased for a third straight day.
Following a low of $41,812 on Wednesday, BTC/USD rebounded to a session high of $43,231.29 on Thursday.
This is bitcoin’s highest price in 21 days and follows a breach of the $42,500 resistance level.
BTC’s recent positive momentum has occurred as traders seem to have overcome market concern in the aftermath of Biden’s executive order, as well as the Fed rate decision.
If the rising trend continues, bulls may target the $45,050 barrier level.
However, one potential impediment to this is the approaching 61.65 cap on the 14-day RSI indicator.
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Ethereum
Ethereum’s price decline from yesterday did not continue over to Thursday, as ETH once again surpassed the $3,000 mark.
