BTC briefly rose back above $20,000 on Tuesday, as U.S. markets reopened following yesterday’s Independence Day holiday. Prices for ETH also rose above the $1,100 resistance mark. Globally, crypto market capital is 0.3% larger.
Bitcoin
Bitcoin rallied above $20,000 on Tuesday as U.S. traders returned. Independence Day festivities
A volatile trading session saw BTC/USD rise to an intraday high of $20.405.12 in just a few minutes.
These gains weren’t sustained and the prices plummeted to $19 438.48.48. Bulls probably liquidated positions.
As of writing, prices are now trading at $19,447.73, which is roughly around 1.13% lower than today’s high.
The chart shows that the price drop occurred as the prices approached the $20,500 short-term resistance level.
Volatility remains high overall, with bearish pressure still present and bears most likely to look to lower than $19,000 in the upcoming sessions.
Ethereum
ETH also traded through turbulence Tuesday as the price of the currency fluctuated between $1,100 and $1,100 throughout the day.
After trading below $1,100 for the past few days, ETH/USD rose to a peak of $1,165.68 earlier in today’s session.
Unlike BTC, the world’s second largest token was mainly able to stay above this point, following previous highs.
Although some gains may have slowed, ETH currently trades at $1,100. Bulls look to break through a crucial resistance level.
The $1,150 ceiling was where bulls left. However, the bullish sentiment is still there with the 10-day MA on the edge of an upward crossover with the 25 day MA.
This cross will most likely cause prices to rise and push past the resistance. It could even take them as high as $1,200.
Are you expecting ETH to make a run for it this week? Comment below with your views.
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