Cryptocurrencies show signs of a continued rally after an exciting week of trading. Bitcoin and Ethereum are both up, while Bitcoin is trading above $17,000 and Ethereum hit a five day high of $1,300.
Bitcoin
Bitcoin (BTC) gained traction during Friday’s session, surpassing the $17,000 mark and retreating from the $17,000 level.
The BTC/USD pair had previously hit a low price of $16,788.78 on Thursday, and an intraday high of $17,274.60 earlier in the day.
Analyzing the chart, it is evident that Bitcoin has dropped from its previous highs, as the bullish momentum decreased shortly after the breakout.
The Relative Strength Index (RSI) is currently hovering around the 50.93 mark, which is just below the 52.00 ceiling.
Should the index keep climbing, the next target for bulls will be the $17,000.
Ethereum
In addition to Bitcoin, Ethereum (ETH) prices also recovered from recent losses on Friday.
The ETH/USD pair reached an intraday high at $1,286.23, which was a major bounce from Thursday’s low of $1227.50.
Today’s rally has seen the coin reach the $1,305 resistance level, which was its highest point since 2005.
