Bitcoin moved off Tuesday’s lows in the hump day session as the price once again rose above $30,000. Prices have been hovering above and below this level for the past few weeks, with no significant gains during this period. ETHalso rose modestly.
Bitcoin has continued to hover above and below $30,000 over the past few weeks, and prices are still showing this movement today.
After hitting a low of $29,445.88 on Tuesday,BTC/USD surged to an intraday high of $31,489.68 earlier in the session today.
This move came as bulls tried to break through the $31,500 resistance point again, but as on Monday, to no avail.
As of this writing, the world’s largest cryptocurrency is currently trading at $30,218.01, which is still 2.5% above yesterday’s bottom.
However, with bulls likely to exit their earlier positions, today’s gains will likely ease gradually and there is still a chance that prices could drop below $30,000.
Ethereum
ETHalso remained below a key price range but rose above that level today.
The world’s second-largest crypto token fell to an intraday low of $1,729.41 on Tuesday, but its price peaked at $1,862.91 on Hump Day.
The surge, which brought Ethereum back above $1,800, was nearly 4% higher than yesterday’s low, but not enough to keep bearish sentiment away.
At the time of writing, and as the day wore on,ETHwas again below $1,800 below $1,800.
Overall,.ETHis currently trading at $1,792.54 and appears to be seeing new levels of bearish sentiment pushing prices toward $1,750 support.
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