Bitcoin, Ethereum Technical Analysis: BTC, ETH Move Past Key Resistance Levels on Tuesday

Bitcoin was trading astatine its highest level successful the past 5 days connected Tuesday, arsenic prices roseate past a cardinal absorption point. Ethereum besides rallied to a akin milestone earlier successful today’s session, arsenic cryptocurrency markets proceed to determination distant from caller bearish sentiment. As of writing, the planetary marketplace headdress is trading 0.38% higher.

Bitcoin

Bitcoin moved to its highest constituent successful 5 days connected Tuesday, arsenic bearish sentiment began to gradually fade.

BTC/USD deed an intraday precocious of $19,667.00 earlier successful today’s session, which follows up from Monday’s bottommost of $19,427.00.

The determination saw terms ascent beyond a cardinal absorption constituent of $19,550, hitting its strongest constituent since Friday successful the process.

BTC/USD – Daily Chart

Looking astatine the chart, today’s determination comes arsenic the 14-day comparative spot scale (RSI) continues to commercialized supra its ceiling of 48.50.

As of writing, the scale is tracking astatine 51.18, nevertheless immoderate earlier bulls person liquidated their positions, with prices present trading somewhat little astatine $19,584.52.

Despite this flimsy alteration successful price, bulls are apt to proceed targeting $20,000, which hasn’t been deed since October 6.

Ethereum

In summation to BTC, ethereum (ETH) was mostly higher connected Tuesday, arsenic the token continued to commercialized supra $1,300.

Following a bottommost of $1,315.31 to commencement the week, the token raced past a cardinal ceiling, connected its mode to today’s highest of $1,339.09.

The ceiling of $1,330 has mostly been successful spot for the past fortnight, nevertheless ETH/USD has moved little since the earlier breakout.

ETH/USD – Daily Chart

The world’s 2nd largest cryptocurrency is present hovering somewhat beneath today’s peak, astatine the $1,326.75 mark.

Like with bitcoin, ETH bulls person somewhat retreated, arsenic marketplace uncertainty accrued adjacent the absorption level.

Should bulls flooded this existent turbulence, the adjacent people for ethereum traders volition apt beryllium a ceiling adjacent the $1,380 region

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Could ethereum determination lower, aft failing to stay supra its existent resistance? Leave your thoughts successful the comments below.

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