remained silent after the weekend of Bitcoin remains just above the critical $16,800 support point, while Ethereum has remained near the $1,230 cap. Overall, the global crypto market is up 0.20% at the time of writing.
Bitcoin (BTC) saw little change in the market following the Christmas weekend, prompting him to drop at the start of the week. It remained just above the $16,800 ceiling.
Trading volumes are typically low during the holiday season and most financial markets are closed.
But the crypto market remains open,BTC/USD trying to recapture his $17,000 level.
chart, Bitcoin has broken $16,908.86 early today. It hits a new high This is just above Sunday’s low of $16,755.25.
This move comes as the 14-day Relative Strength Index (RSI) approaches the key high end of 49.00.
The index is currently tracking at the 47.55 mark and bulls may continue to push towards the aforementioned resistance level.
Following Christmas lows of $1,203.72,ETH/USD raced to a peak of $1,222.61 early in today’s session.
As a result of today’s move, Ethereum has continued below his $1,230 key resistance level for the sixth consecutive day.
It continues to hover near its own resistance at RSI 48.00
. At the time of writing the index is tracking 47.33.
Nonetheless, the 10-day (red) moving average (MA) is starting to approach his 25-day (blue) moving average, with an upward cross pending in the coming days. It may have been
SUBSCRIBE HERE FOR WEEKLY PRICE ANALYSIS UPDATES IN YOUR INBOX:
IMAGE CREDITS: Shutterstock, Pixabay, Wiki Commons