2 years ago
After rising to a multi-week precocious implicit the weekend, ethereum consolidated connected Monday, arsenic marketplace uncertainty accrued up of tomorrow’s Merge. The token, which continues to commercialized supra $1,700, fell from Sunday’s high, arsenic bulls apt liquidated erstwhile positions. Bitcoin remained higher, rising for a sixth consecutive session.
Bitcoin
Bitcoin (BTC) roseate for a sixth consecutive league to commencement the week, arsenic sentiment successful cryptocurrency markets remained mostly bullish.
BTC/USD roseate to a precocious of $22,244.38 earlier successful today’s session, little than 24 hours aft trading astatine a debased of $21,493.03.
Today’s rally sees the token present up by implicit 12% successful the past 7 days, with immoderate expecting further surges this week.
Looking astatine the chart, the caller bullish momentum has led to terms spot moving towards overbought territory.
As of writing, the 14-day comparative spot scale (RSI) is presently tracking astatine 59.67, and this comes pursuing a caller breakout of the 55.40 absorption point.
In summation to this, the 10-day (red) moving mean is present connected the cusp of a transverse with its 25-day (blue) counterpart, which could awesome further surges successful price.
Ethereum
Ahead of the commencement of tomorrow’s Merge, ethereum (ETH) consolidated connected Monday arsenic traders prepared for the event.
Following Sunday’s highest of $1,782.73, ETH/USD dropped to an intraday debased of $1,721.63 earlier today.
The diminution comes arsenic bulls apt secured earlier gains, successful anticipation of accrued levels of terms volatility implicit the coming days.
As of writing, prices person rebounded from the erstwhile debased of the day, with ETH present trading astatine $1,751.34.
This comes arsenic sentiment inactive remains bullish, pursuing a caller transverse betwixt the 10-day (red), and 25-day (blue) moving averages.
Overall, it appears that the people for traders inactive remains $1,800, which could travel if the RSI moves past its existent ceiling of 60.00.
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Do you expect marketplace sentiment to crook bearish this week? Leave your thoughts successful the comments below.
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