Bitcoin, Ethereum Technical Analysis: BTC, ETH Lower, as Both Run Into Strong Resistance

Bitcoin remained adjacent to a ten-day precocious connected Monday, arsenic prices consolidated pursuing gains from the weekend. Although ETH was little to commencement the week, it was besides capable to stay adjacent to Sunday’s highest astir the $1,280 level.

Bitcoin

BTC was consolidating during today’s trading session, arsenic bulls look to person secured immoderate profits pursuing caller gains.

Coming from the backmost of a precocious astatine $21,783.72 connected Sunday, BTC/USD roseate to an intraday debased of $20,965.11 connected Monday.

This diminution sees bitcoin commencement the week trading astir 2% lower, nevertheless inactive adjacent to caller highs, arsenic immoderate bullish sentiment inactive remains.

In presumption of upwards sentiment, this tin beryllium seen successful today’s action, with prices bouncing backmost from earlier lows, and arsenic of penning they beryllium astatine $21,261.87.

As outlined during the weekend, 1 of the hurdles that could person prevented BTC from further gains was that of the 36.45 ceiling connected the RSI, and this has turned retired to beryllium the case.

Looking astatine the chart, today’s autumn comes arsenic terms spot was incapable to interruption retired of this point, and arsenic of penning the indicator is tracking astatine 36.

Ethereum

There was a akin communicative for ethereum successful today’s session, arsenic terms slipped, whilst besides remaining adjacent to caller highs.

ETH/USD dropped to an intraday debased somewhat beneath $1,200, astatine $1,199.41, nevertheless arsenic the league progressed, ethereum managed to regain immoderate momentum.

As of writing, ETH is present trading astatine $1,217.17, which is astir 3.17% little than yesterday’s highest astatine $1,272.13.

Bulls seemed acceptable connected recapturing the $1,300 level during this past weekend, nevertheless similar BTC, this tendency was not realized, owed to hurdles from the RSI indicator.

The 39.80 ceiling connected the Relative Strength Index was impenetrable this weekend, and arsenic such, bulls decided to liquidate earlier gains.

However, it is apt that traders whitethorn marque different tally astatine this level successful coming days, which would spot prices re-enter the $1,300 region.

Will we spot immoderate further spikes successful terms earlier the period ends? Leave your thoughts successful the comments below.