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Bitcoin Breaks Above $22k and Sets Sight at $25,000, Ethereum Rallies 8%
For the first time in three weeks, the price of Bitcoin has traded above $22k following a 6.5% rally over the last 24 hours. The rally saw Bitcoin break through a resistance zone and point to where the price could go next.
The 24-hour price chart of Bitcoin (BTC). Source: CoinMarketCap
When Bitcoin peaked at its new three-week high of $22.9k, it formed a symmetrical triangle on the 4H chart. If Bitcoin sustains the buying pressure in the next few days, it could trigger a 25% upswing and a retest of the $25,000 level.
Bitcoin’s rally started a little later than Ethereum’s, which began to rally after the announcement of a successful merge on the Sepolia testnet. Ethereum has gained more than 12% in the last 48 hours.
The 48-hour price chart of Ethereum (ETH). Source: CoinMarketCap
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