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.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin57,253 0.03 % 2.84 % 1.54 %
Ethereum4,591.3 0.40 % 2.54 % 11.95 %
Binance Coin621.52 0.24 % 1.48 % 10.99 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana212.64 0.10 % 0.42 % 1.74 %
Cardano1.570 0.14 % 3.70 % 11.45 %
XRP1.000 0.12 % 0.02 % 3.53 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Dogecoin0.2215 0.68 % 1.42 % 7.23 %

bitcoin
Bitcoin (BTC) $ 56,794.00
ethereum
Ethereum (ETH) $ 4,554.13
binance-coin
Binance Coin (BNB) $ 615.94
tether
Tether (USDT) $ 0.998276
solana
Solana (SOL) $ 209.75
cardano
Cardano (ADA) $ 1.56
xrp
XRP (XRP) $ 0.9884
polkadot
Polkadot (DOT) $ 37.77
usd-coin
USD Coin (USDC) $ 0.996803
dogecoin
Dogecoin (DOGE) $ 0.213207