Bitcoin Surges Above $31,000, Reaches Highest Level in a Year

By Benito Cormi Jun 24, 202374Views

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Bitcoin (BTC) experienced a surge in price, surpassing $31,000, its highest level since June 2020. However, the relative strength index (RSI) has fallen below a ceiling at 73.00, indicating overbought territory and potentially attracting more bears. The crossover of the 10-day and 25-day moving averages suggests the potential for further gains.

On the other hand, Ethereum (ETH) briefly rose above $1,900 but failed to sustain momentum. The cryptocurrency is currently trading at $1,888.03, slightly higher than the previous day’s low. Price strength has been unable to surpass a ceiling at 61.00, and Ethereum’s RSI is at 59.81. However, a potential upwards cross of its moving averages could lead to a move above $2,000.

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Benito Cormi

Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.

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