Bitcoin, Ethereum Technical Analysis: BTC Back Above $41,000 as Crypto Bulls Return

Following caller losses, BTC rallied connected Tuesday, arsenic bulls appeared to person returned to cryptocurrency markets. In summation to bitcoin, ETH besides moved distant from yesterday’s debased beneath $2,900, with terms present hovering adjacent to $3,100.

Bitcoin

After respective days of bearish pressure, cryptocurrency prices yet rallied connected Tuesday, with BTC climbing backmost supra $41,000.

The world’s largest cryptocurrency was up by arsenic overmuch arsenic 5% earlier successful today’s session, rising to an intraday precocious of $41,146.89 successful the process.

Tuesday’s terms surge comes pursuing a bottommost of $39,123.16 connected Monday, which was the lowest BTC/USD had traded since March 15.

BTC/USD – Daily Chart

As of writing, BTC is presently trading astatine $40,926.77, which is marginally little than earlier highs, and comes arsenic traders took nett astatine resistance.

Looking astatine the chart, this ceiling is astatine the $41,175 level, which halted the past 3 attempted sustained breakouts.

Despite prices failing to breakout, terms spot has, with the 14-day RSI trading marginally supra the 44 resistance, which could beryllium a bully denotation for bulls looking to prolong today’s pressure.

Ethereum

ETH was besides trading higher connected Tuesday, moving distant from its multi-week lows successful the process of today’s rally.

As of writing, ETH/USD raced to an intraday highest of $3,080.79 earlier successful today’s session, which is astir 4% up from yesterday’s low.

Monday’s bottommost of $2,903.24 fell beneath the semipermanent terms level of $2,950, and deed its lowest constituent since March 22.

ETH/USD – Daily Chart

Despite today’s rally, the 14-day RSI continues to hover beneath its ceiling astatine 50, and is presently tracking astir 47.50.

This is bully quality for bulls, however, immoderate further gains successful terms volition apt conscionable absorption astatine the $3,150 level.

Should determination beryllium capable momentum to walk some this point, and the 49 RSI level, we could spot ETH heading towards $3,300.

Has the caller consolidation successful ETH yet ended? Leave your thoughts successful the comments below.

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