ETHbriefly crossed $2,000 on Tuesday and crypto bulls were present again in today’s market session. BTCwas also higher, with the world’s largest cryptocurrency rising to its highest level in nearly three weeks.
Bitcoin
Bitcoin rose to its highest level in nearly three weeks on Tuesday as crypto prices continued to rise following recent losses.
Following a low of $29,363 to start the week,.BTC/USD soared to a peak of $31,949.63 earlier today.
This peak is the highest bitcoin has traded at since May 9, when the market was in a four-day downward spiral from $40,000.
After attempting to break through the $30,500 resistance line on Monday, this point was easily broken today. However, price uncertainty already appears to be creeping in.
The chart shows that the price is below the previous high and the 14-day RSI (Relative Strength Index) is at 50.
The Relative Strength Index has not moved in nearly two months from here, but if this finally happens, it could really start the long climb to $40,000.
Ethereum
The beginning and end of Ethereum’s long climb to $2,000 todayETHbriefly retook this point, but the session tailed off as the session progressed.
ETH/USD rose to an intraday high of $2,005.49 on Tuesday, less than 24 hours after trading at a low of $1,877.64.
With today’s rally, Ethereum has gained over 10% in the last two sessions, breaking through recent resistance in the process.
This is of course the $1950 point, which finally gave way after being below this level for almost a week, but the bears have not yet fully abated
As can be seen from the chart, the earlier bulls chose to take profits after the resistance level was exceeded, which triggered the resurgence of the bears.
Following earlier highs,ETHis now trading at $1,977.11, as the RSI’s 44.50 upper limit holds firm despite recent breakout attempts.
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