Bitcoin was buying and selling greater for a second consecutive session on Tuesday, which is the primary time it’s seen back-to-back positive factors in over two weeks. ETH additionally climbed in as we speak’s session, as bulls continued to re-enter the market.
Bitcoin
BTC was buying and selling greater for a second consecutive session on Tuesday, as markets continued to maneuver away from latest lows.
Costs hit an intraday peak of $21,387.65 earlier in as we speak’s session, lower than a day after buying and selling at a low of $19,905.48.
At the moment’s surge in value sees BTC/USD rise for back-to-back classes for the primary time since earlier in the month.
BTC/USD – Day by day Chart
Bulls have re-entered the market with relative pressure in the previous few classes, as some imagine we’d have seen costs hit their ground.
Wanting on the chart, additional lows may nonetheless be forward, particularly if the 14-day RSI strikes again in direction of its latest low of 19.
This might see BTC’s value close to as little as $15,000, nonetheless bulls will doubtless battle to stop this from occurring.
Ethereum
Ethereum was additionally up on Tuesday, because it too rallied for a second consecutive session following latest lows.
The world’s second largest cryptocurrency climbed to an intraday excessive of $1,168.80 earlier, and this got here as costs moved again above $1,000 on Monday.
Tuesday’s peak is sort of $300 greater than final weekend’s lows, which noticed ETH commerce near $850 for the primary time since January 2021.
ETH/USD – Day by day Chart
As of writing, ETH/USD is now buying and selling near a brand new resistance degree round $1,170, with the RSI additionally hovering close to a ceiling.
Price power stays considerably muted regardless of these positive factors, and until we see a major surge in the RSI, we might not see any short-term rallies.
Nonetheless, have been a breakout to happen, the doubtless goal for bulls in ETH can be the $1,700 level, which now seems to be enjoying the position of resistance.
Might ETH hit $1,700 earlier than the top of the month? Go away your ideas in the feedback beneath.
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