ETH Remains Above $2,000, While BTC Recaptures $30K Level – Market Updates Bitcoin News

BTC moved away from Monday’s lows to surge above $30,000 on Tuesday, as crypto bulls pushed prices higher. ETH continues to trade above $2,000, with prices rising by as much as 4% during today’s trading session.

Bitcoin

BTC trading at above that level after an initial low of $30,000, as the bulls made a return on Tuesday.

Following a low of $29,251.89 during Monday’s session, BTC/USD rose to a peak of $30,678.68 earlier today.

The markets are volatile after falling below $30,000 last Wednesday.

To date, the floor was at the $28,800 mark, while the resistance level is at $31,500. Both were reestablished last Wednesday.

As you can see, both the 10-day and the 25-day moving mean are still showing bearish sentiment. Both indicate downward momentum.

The volatility is at an all-time high. Traders are still being cautious when making their decisions, which could lead to greater price uncertainty over the coming sessions.

Ethereum

ETH, like bitcoin, was higher Tuesday due to a higher overall sentiment following a red surge that began the week.

Yesterday’s slow start saw ETH/USD hit a bottom of $1,988.81, but it spiked to a peak of $2,094.54, which is nearly 3% up from Monday’s low.

BTC has been mirrored by ETH in direction but drops in ethereum were less as the prices have settled at a fixed floor.

It appears that this support level is at $1,950, with $21,150 serving as resistance in the consolidation phase.

The chart shows that the Relative Strength Index of (RSI) 14-days is still below a ceiling limit of 35. This will need to change if consolidation is to stop.

Will we see an influx of bullish sentiment following today’s gains? Please leave your comments.

Eliman Dambell

Eliman has a unique perspective on market analysis, having been a broker director, educator in retail trading, and commentator on Crypto, Stocks, and FX markets.