Bitcoin moves higher after Powell’s comments

Bitcoin managed to settle above the 20 EMA which is located near $44,000 and is trying to settle above the 50 EMA at $44,600. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum.
Bitcoin has reaped some gains after the comments by Fed Chair Jerome Powell who stressed that he had no intention to ban cryptocurrencies.
Powell also added that he wanted more regulation for stablecoins. This is a remarkable positive development for the whole crypto space as regulatory risks have practiced pressure on market sentiment after the recent Chinese crackdown on crypto.
Most cryptocurrencies are moving higher after Powell’s comments. Ethereum managed to settle above the 50 EMA at $3,035 and is moving towards the 20 EMA at $3,115.
Dogecoin settled above the resistance level at $0.20 and is testing the next resistance which is located at $0.2050, while Shiba Inu is trying to settle above the 50 EMA near $0.0000073.