Bitcoin cleared the $9,500 mark Thursday morning while Ethereum reached $269, its highest level since March's downturn when bears had pressed prices below $246. The broader crypto market moved into th
Bitcoin cleared the $9,500 mark Thursday morning while Ethereum reached $269, its highest level since March's downturn when bears had pressed prices below $246. The broader crypto market moved into the green.
Tokens saw varied performance over 24 hours: XRP gained 3.6%, Bitcoin Cash 4.5%, Litecoin 3.9%, IOTA 6%, and TRON 3%. ChainLink outpaced them all with a 7% surge.
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For Bitcoin, the move above $9,500 represents the first time in weeks that traders are discussing a run toward $10,000. The jump from $9,391 to $9,529 put bulls in position to target $9,700. A break above $9,780 could set up a test of the $10,000 level, though the 61.8% Fibonacci level near $9,811.84 likely blocks the way. Traders anticipate bulls may struggle to consolidate above this zone and push higher.
Should that happen, buyers can rely on support from the 38.2% Fibonacci retracement level and the 50-day and 20-day moving averages at $9,263 and $9,372.
Ethereum moved up 9% in 24 hours and trades near $263, approaching $270. The token broke through two key barriers: the $250 level and major resistance at $260. Buyers had been working to build momentum above $246, and Thursday's surge gave them the opening they needed. With bulls in control at prices above $264, $280 comes into view for the coming trading sessions.
Getting to $280 will test the bulls, though the MACD indicator shows a bullish divergence on the daily chart. The RSI has eased from overbought territory, giving buyers the breathing room to establish themselves above $260. An immediate reversal would force buyers to defend $250, which remains critical to preserve their shot at a higher break in coming sessions. If prices dip through $250, they could slide toward the $245 low.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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