Ethereum was as soon as once more greater on Monday, as costs of the token moved in the direction of $1,500 following latest beneficial properties. Bitcoin was additionally within the inexperienced, as costs climbed near a one month excessive, after surging above $22,000 to start out the week.
Bitcoin
Bitcoin (BTC) was within the inexperienced to start out the week, because the weekend’s bullish momentum continued in at this time’s session, sending costs over $22,000.
Following Sunday’s low of $20,778.18, BTC/USD surged to an intraday peak of $22,430.62 earlier at this time.
The transfer has seen bitcoin briefly escape of a key resistance stage for the second time in beneath ten days, nonetheless it’s nonetheless unsure if the surge shall be sustained this go round.
This resistance on the $22,300 has been one of many primary hindrances for value progress, with bears sometimes re-entering at that time.
As seen on the chart, this has considerably already occured with bullish stress turning bearish, as merchants abandon earlier positions, selecting to safe beneficial properties as a substitute.
This additionally coincides with the 14-day RSI hitting a ceiling of its personal at 55, which is its highest level in over three months.
Ethereum
Ethereum (ETH) was the large gainer out of the highest two tokens on Monday, because it too raced to a one month excessive, nonetheless, climbing by practically 10% within the course of.
Ethereum began the week by hitting a excessive of $1,493.23 on Monday, which is its highest level since June 12.
This peak comes following six consecutive days of upper highs, pushing ETH previous a number of key value hurdles within the course of.
The final of those was the resistance level of $1,300 which was damaged on Saturday, and thus opening the flood gates to an onslaught of bulls.
Like bitcoin, the 14-day RSI indicator is now monitoring at a 3 month excessive above 65, which prior to now has been a degree of uncertainty.
Though very shut, costs haven’t but reached the $1,500 level, and it seems that that is the purpose that bulls are concentrating on.
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https://information.bitcoin.com/bitcoin-ethereum-technical-analysis-eth-nears-1500-following-strong-weekend-gains/
