The week had been turbulent, but bitcoin returned to green Tuesday after a rebound. It climbed above $21,000 on Tuesday. Prices rose to the highest level in almost two weeks and moved past a crucial resistance level. Ethereum also traded higher at $1,400.
Bitcoin
On Tuesday, Bitcoin (BTC), which was close to a 2-week peak, rebounded from a bearish period and reached a new high.
After a low of $19,006.11 at the beginning of the week, Bitcoin/USD surged to an intraday high of $20,294.34 Tuesday.
It is also the highest price the token has traded at in September 2014, just marginally higher than the $20,250 resistance level.
BTC trades slightly higher than this threshold as of writing. The 14-day relative weakness index (RSI), however, is also above a comparable threshold.
Current index reading is 52.72. That’s higher than the resistance level (49.00).
If the price of Bitcoin continues to rise, we may see BTC regaining $21,000 within days.
Ethereum
On Tuesday, ethereum (ETH) was also trading higher, with the world’s second largest cryptocurrency moving back towards the $1,400 level.
USD/ETH rose to $1,395.31 in the morning, the highest price the token has reached in five consecutive days.
This move was made following a break of a resistance at $1,335, and the RSI moving beyond a ceiling.
This time it was the 39.50 Point, which had been a big obstacle to the price increases over the past week.
At the time of writing, index was at 45.00. That is yet another point in resistance. But bulls remain firm despite increasing uncertainty.
Many expect ethereum to surge past the $1,400 mark at some point in today’s session, with the $1,410 level a possible exit point.
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