Bitcoin broke the $ 9,300 mark for the first time in a week as the bears’ attempt to keep prices below $ 9,000 failed. With the return of purchasing power, bitcoin broke the resistance found at the $ 9,255 20-day EMA. The next goal is to exceed the simple 50-day moving average and the immediate resistance level of $ 9,392 – probably aggressively defended by the bears. A rise above the 50-day SMA indicator could cause the bulls to test prices near $ 10,000. However, if bears decline prices at $ 9,392, BTC could drop to a low of $ 8,900. Below this level, bulls have support at $ 8,638.
Ethereum is trading above the 20-day EMA at $ 232, which is supported by strong support for accumulation levels between $ 220 and $ 230. The price of the crypto asset is also above the 50-day MA, with bulls likely pushing prices to the recent highs of $ 249. On the upside, the next target would be a price of $ 253, which is likely to provide strong resistance and possibly lead to a drop to the current level. In terms of indicators, the RSI is positive and a short-term rally is all the more likely if the broader market can maintain momentum.