Bitcoin rose over $30,000 at the beginning of this week. However, bearish sentiment has been slightly fading in June. ETH also rallied on Monday, however the world’s second largest cryptocurrency continued to hover below $1,900.
Bitcoin
BTC prices reached their highest point in two weeks after trading at $30,000 for nearly five consecutive days.
We have witnessed BTC/USD reach a record high of $308,806.86 so far today. It is now at its highest point since May 16.
Today’s peak comes following three consecutive days of gains, which began near the recent support point of $28,800.
Due to this bullish momentum bitcoin has broken out from its $30,500 ceiling, and it is now just marginally lower than that.
Bulls that entered the market in recent days will likely make profits at this resistance level, which is often a point for contention.
The 14-day RSI also is currently at a high of 46.
Ethereum
Ethereum’s price rose nearly 5% during the week to begin, but these gains did not reach $2,000.
After falling to $1,787.47 Sunday, ETH/USD rose to $1,909.92 intraday earlier today.
The bulls maintained the support level at $1,750 and prices retreated to the floor of $1,950.
Similar to BTC, some of today’s earlier gains have faded, and as of writing, ETH is trading at $1,888.73, which is marginally below today’s high.
ETH, however, has found its ceiling. This is unlike bitcoin which continues to climb towards a ceiling.
Is ETH poised to surpass $2,000 in the next week? Comment below to share your views.
Credit for the imageShutterstock. Pixabay. Wiki Commons
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