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Bitcoin, Technical Analysis: ETH breaks resistance to hit 9-day high

Both Bitcoin and ETH rose to nine-day highs Wednesday as bulls continued pushing prices higher after yesterday's rebound. After breaking a key resistance level, BTC moved to $42,000, while ETH also climbed above its ceiling of $31,150.

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Bitcoin, Technical Analysis: ETH breaks resistance to hit 9-day high

Bitcoin

BTC rose on Wednesday for the third session, as bulls continued pushing prices higher after a selloff over Easter weekend.

The world's biggest cryptocurrency has risen by more than $3,000 since Monday's low at $38,551 and is currently over 3% higher as of writing.

Today's price surge soared to an intraday peak at $42,126.30. This is the highest level since April 11.

This is in addition to yesterday's bottom at $40,575, as well as breaking the long-term resistance at $41,175

The chart shows that the 10-day moving mean has started to shift in the opposite direction of the downward trend.

If the momentum shifts, then we may see more bulls returning and price could push towards $42,600 resistance.

Ethereum

BTC also gained, while ethereum lost for the third consecutive session. The price is still below its recent support of $2950.

After a Tuesday low of $3054.56 /USD, /ETH /USD surged today to an intraday high at $3,157.89

This price surge saw the second-largest cryptocurrency in the world surpass its current price ceiling of $3150 and reach its highest point since Monday.

The chart shows that resistance at 49.90 in the Relative Strength Index was also broken. Price strength is now at a ten day high.

The price strength is currently at 51. Bulls are looking to possibly take it to 55. This could be a two week high.

This would mean that ETH/USD trading will likely occur at $3,300.

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