Bitcoin and Ethereum rise to $9,500 and $269 as bulls take control

BTC/USD and ETH/USD have broken above crucial hurdles and will look to pump further to strengthen footing above $9,500 and $260 respectively

Bitcoin has climbed above $9,500 while Ethereum has soared to $269, with the crypto market green on Thursday morning.

This represented Ethereum’s highest price level since the mid-March price collapse — a period that saw bears restrict prices below $246.

Other top coins to see a significant pump in the past 24 hours include XRP (+3.6%), Bitcoin Cash (+4.5%), Litecoin (+3.9%), IOTA (6%) and TRON (+3%). ChainLink also surged by more than 7% to continue its remarkable market performance.

Bitcoin price movements

BTC/USD has broken above $9,500 for the first time in weeks and optimism is back regarding attempts to break $10,000 once more.

The spike from $9,391 to $9,529 means bulls can eye up a run to $9,700, with a potential break above $9,780 setting bulls for a retest of prices near the psychologically significant $10k. However, the upside faces a major hurdle as the 61.8% Fibonacci is at $9,811.84

It is likely, therefore, that bulls may initially fail to consolidate and move into the aforementioned price zone.

If that happens, subsequent downsides for BTC/USD have immediate support at the 38.2% Fibonacci retracement level and the SMA 50 and SMA 20 found at $9,263 and $9,372.

Bitcoin and Ethereum rise to $9,500 and $269 as bulls take control 1
BTC/USD daily chart. Source: TradingView

Ethereum price analysis

ETH/USD has surged by more than 9% in the past 24 hours and currently trades around $263 after coming close to $270.

Ethereum bulls have been trying to build momentum for a rally above $246 and yesterday’s pump presented that opportunity; ETH/USD went past two key barriers — the psychological $250 and major resistance at $260.

As of writing, Ethereum bulls are in control with prices poised above $264. A revisit of $280, therefore, will be achievable in the coming trading sessions.

The area might prove difficult to surmount, but buyers might be encouraged by the MACD that is printing a bullish divergence on the daily chart.

Bitcoin and Ethereum rise to $9,500 and $269 as bulls take control 2
ETH/USD daily chart. Source: TradingView

The RSI is in slight decline, turning away from its overbought territory. Buyers will, therefore, be keen to establish a foothold above $260. An immediate reversal will see buyers look to defend $250 as this means they retain the opportunity to break higher in the next few trading sessions. A dip at this level means prices could tank to lows of $245.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin19,011 0.28 % 1.34 % 11.68 %
Ethereum1,046.1 0.94 % 0.60 % 15.93 %
Tether1.001 0.07 % 0.04 % 0.06 %
USD Coin1.002 0.00 % 0.02 % 0.16 %
BNB214.93 1.08 % 0.72 % 10.41 %
Binance USD1.002 0.01 % 0.00 % 0.02 %
Cardano0.4462 0.50 % 1.15 % 10.45 %
XRP0.3113 0.47 % 1.00 % 15.25 %
Solana32.33 1.57 % 2.39 % 23.74 %
Dogecoin0.06540 0.33 % 2.45 % 4.62 %

Bitcoin (BTC) $ 19,030.53
Ethereum (ETH) $ 1,051.81
Tether (USDT) $ 0.999863
USD Coin (USDC) $ 1.00
BNB (BNB) $ 215.89
Binance USD (BUSD) $ 1.00
Cardano (ADA) $ 0.447337
XRP (XRP) $ 0.312046
Solana (SOL) $ 32.69
Dogecoin (DOGE) $ 0.065498