Bitcoin, Ethereum Technical Analysis: BTC, ETH Marginally Higher as USD Weakens on Monday

Following a reddish commencement to October, crypto prices moved marginally higher during Monday’s session. After a little stint beneath $19,000 connected Sunday, bitcoin roseate backmost supra this point, arsenic the U.S. dollar began to weaken against different G7 currencies. Ethereum was besides successful the green, momentarily moving supra $1,300.

Bitcoin

Bitcoin (BTC) was trading marginally higher connected Monday, arsenic crypto prices reacted to a weaker U.S. dollar.

Following past week’s rally successful USD, the currency eased to commencement the month, giving mode to the instrumentality of bitcoin bulls.

BTC/USD roseate to an intraday precocious of $19,312.48 successful today’s session, little than 24 hours aft trading astatine a level of $18,970.62.

BTC/USD – Daily Chart

Looking astatine the chart, the determination saw the token marginally emergence supra its absorption constituent astatine the $19,300 level, which has historically been an country of uncertainty.

As of writing, the turbulence has somewhat returned, with BTC trading astatine $19,208.10.

Today’s rally besides coincided with the 14-day comparative spot scale (RSI) bouncing disconnected a cardinal level of 43.00. Should this ascent continue, we could spot prices determination person to $20,000.

Ethereum

Ethereum (ETH) besides shook disconnected signs of a reddish October, arsenic the token rebounded pursuing 4 consecutive bearish sessions.

After a debased of $1,271.15 connected Sunday, the world’s 2nd largest cryptocurrency raced to a precocious of $1,308.90 to commencement the week.

The determination saw ETH/USD determination towards its caller absorption level of $1,315, which has mostly been successful spot since mid-September

ETH/USD – Daily Chart

Like with bitcoin, ethereum’s 14-day RSI has bounced from a constituent of enactment astatine 36.60, and appears to beryllium heading towards absorption of 41.50

Should this instrumentality place, we volition apt spot the token determination towards a higher ceiling of $1,385, earlier perchance climbing backmost supra $1,400.

The 10-day (red) moving mean besides seems to person shifted course, which bulls volition apt presumption arsenic a affirmative sign.

Register your email present to get play terms investigation updates sent to your inbox:

Do you expect a beardown rebound successful ethereum during October? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.