Bitcoin, Ethereum Technical Analysis: ETH Back Above $1,200, as Federal Reserve Set to Pivot Policy – Market Updates Bitcoin News

/USD rose to a high of $1,211.63 earlier in the day, less than 24 hours after trading at a low of $1,153.53.

The move saw ethereum race above a recent resistance level of $1,180, hitting a five-day high in the process.As can be seen from the chart, the rise in price comes as the RSI climbs above a ceiling at 42.00, and is currently tracking at 42.50. Despite this, there is a higher point of resistance at 43.00, which triggered some earlier bulls to liquidate their positions.

In order to reach $1,250, which appears to be the target for remaining bulls, the RSI will first need to move beyond 43.00.Tags in this story

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