Bitcoin was buying and selling larger for a second consecutive session on Tuesday, which is the primary time it’s seen back-to-back beneficial properties in over two weeks. ETH additionally climbed in right now’s session, as bulls continued to re-enter the market.
BTC was buying and selling larger for a second consecutive session on Tuesday, as markets continued to maneuver away from current lows.
Prices hit an intraday peak of $21,387.65 earlier in right now’s session, lower than a day after buying and selling at a low of $19,905.48.
Today’s surge in worth sees BTC/USD rise for back-to-back classes for the primary time since earlier in the month.
Bulls have re-entered the market with relative power in the previous few classes, as some imagine we’d have seen costs hit their ground.
Looking on the chart, additional lows might nonetheless be forward, particularly if the 14-day RSI strikes again in the direction of its current low of 19.
This might see BTC’s worth close to as little as $15,000, nevertheless bulls will probably battle to forestall this from occurring.
Ethereum was additionally up on Tuesday, because it too rallied for a second consecutive session following current 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 nearly $300 larger than final weekend’s lows, which noticed ETH commerce near $850 for the primary time since January 2021.
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 energy stays considerably muted regardless of these beneficial properties, and until we see a major surge in the RSI, we could not see any short-term rallies.
However, have been a breakout to happen, the probably goal for bulls in ETH could be the $1,700 level, which now seems to be enjoying the function of resistance.
Could ETH hit $1,700 earlier than the tip of the month? Leave your ideas in the feedback under.
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