Bitcoin has maintained its price above $28k two days after the Federal Reserve increased interest rates.
Ether is trading above $1,800 once again and could rally higher soon.
Bitcoin Stays Above $28k, Eyes The $30k Psychological Level
Bitcoin, the world’s largest cryptocurrency by market cap, hasn’t been affected the the Federal Reserve’s recent rate hike.
On Wednesday, the FOMC increased interest rates by 25 basis points despite the recent banking crisis. The rate hike saw Bitcoin momentarily drop toward the $27k support level, but it is trading above $28,000 once again.
The bulls have been able to sustain Bitcoin’s recent rally and could push it past the $30k level in the near term. The technical indicators show that the bullish momentum is not over.
Any movement past the $28,872 resistance level could push Bitcoin toward the $30k psychological level, setting a new 2023 high in the process.
Ether, the second-largest cryptocurrency by market cap, is also performing well. In the last 24 hours, ETH has added more than 2% to its value and is trading above the $1,800 level once again.
Ether could be eyeing the $2k level for the first time this year as bulls remain in firm control of the market.