After a tumultuous start to the week, bitcoin returned to the green on Tuesday, rising above $20,000 again. The move took prices to their highest level in nearly two weeks, passing some key resistance levels in the process. Ethereum also traded higher, approaching the $1,400 level.
Bitcoin
Bitcoin (BTC) approached a two-week high on Tuesday as the token rebounded following a recent bearish spell.
Bottoming at $19,006.11 earlier in the week,
BTC/USD soared to an intraday peak of $20,294.34 on Tuesday.
This is the highest point the token has traded since September 14, just above the $20,250 resistance level.
As of this writing,BTCis still trading slightly above this upper limit and the 14-day relative strength index ( RSI) is also tracking above the same threshold.
Currently, the index resides at a reading of 52.72, which is above its own resistance level of 49.00.
If price strength continues to move in an upward direction, we could seeBTCcross $21,000 again in the coming days.
Ethereum
also traded higher on Tuesday, with Ethereum (ETH) the world’s second largest cryptocurrency back towards the $1400 level.
ETH/USD rose to a high of $1,395.31 earlier in the day, the highest point this token has hit in the past five days.
This move was followed by a breakout of recent resistance at $1,335, and the RSI also moved above its own ceiling.
In this example, it was the 39.50 point that was the major obstacle to the price rise over the past week.
At the time of this writing, the index is hovering at 45.00, another resistance point, but despite the increasing uncertainty, bulls have so far maintained their positions.
Many expect Ethereum to surge above $1,400 somewhere in today’s session, with the $1,410 level as a possible exit.
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