Ethereum approached $1,400 on Thursday as the token rallied from yesterday’s selloff. His second-largest cryptocurrency in the world rose to an almost 10-day high during today’s session as the market rose slightly. Bitcoin has traded above $20,000 again.
Bitcoin (Bitcoin) was above $20,000 again on Thursday. This is because the market has been boosted by better-than-expected individual employment numbers.
The ADP’s private sector payrolls rose to 208,000 ahead of tomorrow’s non-farm payrolls report, beating the market’s forecast of 200,000.
After receiving the report, Bitcoin/USD climbed to a high of $20,408.39, staying close to the three-week high of $20,545 in the process.
Looking at the chart, today’s surge is pushing up the momentum of the 10-day (red) moving average and the trend line is approaching an upward cross with the 25-day (blue) moving average.
At the time of writing, Bitcoin It is currently trading just below the long-term support level of $20,300, which has largely held since September 13th.
To cross this point, the 14-day Relative Strength Index must exceed the currency’s cap of 55.60.
Following Wednesday’s low of $1,320.86, ethereum/USD climbed to a peak of $1,380.40 before opening today.
This is the strongest point the token has traded since Sept. 27, which was also the last time Ethereum crossed $1,400.
At the time of writing this ethereum The bulls have given up some of their previous gains and the token is currently trading at $1,368.
The drop occurred as the RSI collided with the 47.00 resistance. This has been going on since mid-September.
If this hurdle is finally overcome, the world’s second largest crypto token could surpass $1,400.
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Can we see Ethereum move past this point this week? Leave your thoughts in the comments below.
image credit: Shutterstock, Pixabay, Wiki Commons, Dennis Diatel / Shutterstock.com
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