On Monday Ethereum was close to its three-week high, after prices rose following a chaotic weekend. The market cap traded at 1.56%, suggesting that bullish sentiment has returned to crypto markets. Bitcoin was also in the green in today’s session.
Bitcoin
Bitcoin (BTC), trading at a key resistance on Monday as bullish sentiment seemed to have returned to crypto markets.
Following a low of $19,124.20 on Sunday, BTC/USD surged to a peak of $19,646.65 earlier in today’s session.
The move temporarily saw the token move above $19600 but as the day progressed it fell lower.
BTC/USD currently trades at $19 426.71 as of writing. The 14-day relative strength indicator (RSI) has collided to a resistance point.
The index currently tracks at 50.25 after prices failed to rise above a ceiling of 52.00.
Bulls will probably continue their efforts to push beyond that point. Should this happen, BTC could rise to $20,000.
Ethereum
After breaking through a crucial resistance, the ETH/USD pair was close to its three-week peak on Monday.
The intraday peak of $1,368.43 reached ETH/USD earlier today. This is slightly below the October 6th high.
Today’s move comes as the price ceiling of $1,330 was broken during yesterday’s session, giving way to bulls reentering the market.
The RSI of ethereum also soared past a barrier, surpassing its own resistance at 50.30 and currently tracking at 52.82.
Recent bullish pressure increases have led to a change in momentum. The 10-day (red), moving average is now close to crossing over with its 25 day (blue).
If this trend continues, it’s likely that ethereum trading will rise above $1,400 over the next few days.
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