Bitcoin

Bitcoin finally broke above its recent price ceiling on hump-day, leading to the world’s largest cryptocurrency snapping a six-day losing streak.

Following a low of $38,235.74 earlier in today’s session, BTC/USD surged beyond its resistance level at $40,000 as crypto prices rebounded across the board.

As of writing, BTC/USD is up nearly 9% on the day, hitting an intraday high of $42,352.69 in the process.

This is the highest level BTC has traded since last Friday, when prices were on their way to a now support level of $37,600.

Wednesday’s surge in price comes as the 14-day RSI broke free of its own resistance point of 46.70, and is currently tracking at 55.10.

Should price strength continue to climb, bulls will likely attempt to recapture the $45,000 ceiling for the first time since March 2nd.

Ethereum

ETH, which was in a streak of consolidation for the last four sessions, finally moved away from this floor, and is up by over 6%.

As of writing, ETH/USD is trading at $2,739.56, which is marginally lower than today’s peak of $2,761.80.

Looking at the chart, today’s surge has taken the price of ethereum close to its interim resistance point of $2,800.