Bitcoin continued to trade above $20,000 on Wednesday as the token hovered near a two-week high. Bullish momentum in the cryptocurrency market is high this week, with prices soaring after a recent downward spell. Ethereum, on the other hand, was largely flat in today’s session.
Bitcoin
Bitcoin (BTC) traded above $20,000 again, while the token continued to trade near two-week highs.
BTC/USD surged to a peak of $20,479 late in Tuesday’s session, the highest point since September 13.
On Wednesday, prices hovered near this level but fell slightly as they failed to extend the breakout of a key resistance point.
The token slipped off this ceiling of $20,350 earlier today and is trading at $20,024.63 as of writing, while This remains higher than yesterday’s low of $19,917.91.
As you can see from the chart, the 14-day Relative Strength Index (RSI) is also lower today and is currently at 52.45.
This mark is just below the 53.00 support level, and if the decline continues, we will probably seeBTCBTC below $20,000 again.
Ethereum
Ethereum (ETH) almost consolidated on Wednesday as the token fell back towards its own support point.
Following a high of $1,364.97 during yesterday’s session,ETH {56 /USD} fell to an intraday low of $1,335.89 earlier in the day.
As a result of this slip, the world’s second largest cryptocurrency returned toward a floor of $1,330, a level it broke below in less than 24 hours.
Looking at the chart, it appears that the RSI fell once it failed to cross yesterday’s resistance at 44.90.
Now price strength is tracking at 43.67 and seems to be heading for a floor closer to the 42.00 level.
If it reaches its destination, Ethereum will likely drop below $1300.
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