Ethereum moved above $2,000 on Thursday, as the markets continue to react to the successful Shanghai upgrade. The upgrade, also known as “Shapella,” took place late last night, enabling withdrawals on the blockchain. Bitcoin stayed above $28,000.
bitcoin
bitcoin (BTCIt continued to trade above the $30,000 mark on Thursday, as cryptocurrency markets remained supported by the latest US inflation report, which fell to 5%.
After dropping $29,725.57 on Wednesday, BTCUSD/USD rose to an intraday high of $30,462.48 earlier in the day.
The move indicates that bitcoin remains near its ten-month high of $30,584, which it reached during Tuesday’s trading session.
Looking at the chart, the slight uptick in price today comes as the 14-day relative strength index (RSI) has rebounded from its low of 68.00
At the time of writing, the index is now tracking at 69.73, with the next visible point of resistance at 71.50.
If the index moves beyond this point, there is a good chance that Ethereum will surpass $30,500.
Ethereum
Powered by Shanghai Update, ethereum (ETH) excelled BTC in today’s session, up by about 7% during this process.
ETHUSD/USD rose to a high of $2,007.05 earlier in today’s session, less than a day after trading at $1,882.37.
As a result of today’s price hike, the world’s second largest cryptocurrency has reached its highest level since last August.
The rally came in eight months with price strength rising beyond the ceiling at 65.00. It is now reading at 69.44.
The resistance level of 75.00 seems to be the next hurdle for the bulls, and the momentum should continue in an upward direction, ETH It could move above $2,100 this week.
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