Ethereum rose again on Monday, with the token’s price moving toward $1,500 following recent gains. Bitcoin was also in the green, rising close to a one-month high after surging above $22,000 earlier in the week.
Bitcoin
Bitcoin (BTC) opened the week in the green as the weekend bullish momentum continued into today’s session, as prices crossed $22,000.
Following Sunday’s low of $20,778.18,BTC/USD soared to an intraday peak of $22,430.62 earlier today.
The move allowed bitcoin to briefly break through a key resistance level for the second time in less than 10 days, but it remains to be seen if this surge will be sustained.
This $22,300 resistance has been the main obstacle to the price rise, with bears usually re-entering at that point.
As seen in the chart, bullish pressure turned bearish as traders chose to abandon their previous positions and instead secure profits, which has already occurred somewhat.
This is the same as the 14-day RSI hitting its ceiling at 55, its highest level in over three months.
Ethereum
Ethereum (ETH) was the big gainer among the top two tokens on Monday, hitting a one-month high, rising nearly 10% in the process
Ethereum hit a high of $1,493.23 on Monday, starting the week at its highest level since June 12.
This peak followed six consecutive days of highs, pushingETHover several key price hurdles in the process.
The last of these resistance points, $1300, was broken on Saturday, opening the floodgates to a bullish onslaught.
Like Bitcoin, the 14-day RSI indicator is currently at a 3-month high above 65, a point that has been a source of concern in the past.
Although very close, price has yet to reach the $1500 point, which appears to be the point bulls are targeting.
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