Bitcoin, Ethereum Technical Analysis: ETH Above $1,330, Consolidating Recent Gains

Ethereum mostly consolidated during Tuesday’s session, arsenic prices continued to commercialized adjacent to caller highs. Following a determination to a three-week highest to commencement the week, markets maintained bullish sentiment, earlier successful the day. Bitcoin besides upheld caller momentum, with the coin remaining adjacent its ceiling astatine $17,400.

Bitcoin

Bitcoin (BTC) continued to commercialized adjacent to the $17,200 level successful today’s session, arsenic traders moved to unafraid Monday’s gains.

Following a debased of $17,162.99 to commencement the week, BTC/USD deed a precocious of $17,389.96 earlier successful the day.

However, earlier gains person since diminished, with the world’s largest cryptocurrency presently trading astatine $17,271.27.

BTC/USD – Daily Chart

Looking astatine the chart, today’s terms consolidation came arsenic the 14-day comparative spot scale (RSI) continued to hover adjacent to a cardinal absorption astatine the 60.00 mark.

Despite the scale presently tracking supra this constituent astatine 60.89, terms uncertainty has heightened, starring to erstwhile bulls abandoning positions.

Traders whitethorn erstwhile again effort to determination beyond a terms ceiling astatine $17,400, nevertheless this whitethorn travel aboriginal successful the week pursuing the merchandise of U.S. ostentation data.

Ethereum

Ethereum (ETH) besides moved into consolidation connected Tuesday, arsenic prices failed to interruption retired of a cardinal absorption constituent of $1,350 connected Monday.

Earlier successful today’s session, ETH/USD moved to a highest of $1,342.14, earlier past dropping to a bottommost astatine $1,317.24.

Like with bitcoin, today’s consolidation successful ethereum comes arsenic traders opted to instrumentality profits, aft the coin rallied to a multi-week precocious yesterday.

ETH/USD – Daily Chart

As tin beryllium seen from the chart, yesterday’s summation pushed ETH into overbought territory, starring to a slowing down of upward momentum.

Currently, the RSI is tracking astatine 68.08, which is its strongest constituent since precocious October, and adjacent to a ceiling of 70.00

In bid for bullish momentum to widen caller gains, this ceiling volition archetypal request to beryllium overcome.

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