The BTC/USD and ETH/USD pairs have cleared important hurdles and look poised to strengthen further, targeting $9,500 and $260 respectively
Bitcoin has broken above $9,500, while Ethereum surged to $269 as the crypto market traded in positive territory on Thursday morning.
This marks Ethereum’s highest price since the mid‑March crash that pushed prices below $246.
Other notable gainers over the past 24 hours include XRP (+3.6%), Bitcoin Cash (+4.5%), Litecoin (+3.9%), IOTA (+6%) and TRON (+3%). Chainlink also jumped more than 7%, continuing its strong performance.
Bitcoin price movements
The BTC/USD pair rose past $9,500 for the first time in weeks, bringing renewed optimism about attempts to reclaim the $10,000 level.
The recent swing from $9,391 to $9,529 suggests bulls could push toward $9,700, with a possible breakout above $9,780 that would set up a new test of the psychologically important $10,000 area. However, upside faces a significant resistance near the 61.8% Fibonacci retracement at $9,811.84.
Given that resistance, bulls may struggle to sustain momentum and push into the higher price zone immediately.
If the rally stalls, immediate support for BTC/USD lies at the 38.2% Fibonacci retracement and the 50‑ and 20‑period simple moving averages, located around $9,263 and $9,372 respectively.
Ethereum price analysis
The ETH/USD pair climbed more than 9% over the past 24 hours and is trading near $263 after briefly touching $270.
Ethereum bulls built momentum for a move above $246, and yesterday’s rally delivered that opportunity. ETH/USD cleared two key barriers: the $250 psychological level and major resistance at $260.
At the time of writing, Ethereum bulls remain in control with prices above $264, making a retest of $280 possible in upcoming sessions.
That level could present a challenge, but buyers may gain confidence from the MACD, which shows a bullish divergence on the daily chart.
The RSI has eased slightly, pulling back from overbought territory, so buyers will want to firmly establish prices above $260. If the market reverses, bulls will likely defend $250, as holding that level preserves the chance of another upside breakout. A drop below $250 could open the door to a slide toward $245.