Ethereum was back in the green on Friday, as bulls returned to action following yesterday’s selloff.
Crypto markets set aside concerns over Tesla’s bitcoin sale, extending this week’s rally in the process. Bitcoin was also up in today’s session, as it headed back towards $24,000.The world’s largest cryptocurrency climbed to an intraday high of $23,663.72 in today’s session, after dropping to $22,431.12 less than 24 hours ago.
Today’s move sees bitcoin move back towards its long-term resistance level at $24,300, which is a point it hit earlier this week.Following today’s surge, price strength has once again collided with a ceiling of its own, two days after failing to overcome this obstacle. This resistance on the 14-day RSI sits at the 62 mark, and is the highest point relative strength has hit in three months.
Should bulls finally break out of this level, we will likely see bitcoin not only move into the $24,000 region, but make a move towards $25,000.
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