Bitcoin, Ethereum Technical Analysis: ETH, BTC Climb for Back-to-Back Sessions for First Time in Nearly 2 Weeks

Bitcoin was trading higher for a 2nd consecutive league connected Tuesday, which is the archetypal clip it’s seen back-to-back gains successful implicit 2 weeks. ETH besides climbed successful today’s session, arsenic bulls continued to re-enter the market.

Bitcoin

BTC was trading higher for a 2nd consecutive league connected Tuesday, arsenic markets continued to determination distant from caller lows.

Prices deed an intraday highest of $21,387.65 earlier successful today’s session, little than a time aft trading astatine a debased of $19,905.48.

Today’s surge successful terms sees BTC/USD emergence for back-to-back sessions for the archetypal clip since earlier successful the month.

Bulls person re-entered the marketplace with comparative unit successful the past fewer sessions, arsenic immoderate judge we mightiness person seen prices deed their floor.

Looking astatine the chart, further lows could inactive beryllium ahead, particularly if the 14-day RSI moves backmost towards its caller debased of 19.

This could spot BTC’s terms adjacent arsenic debased arsenic $15,000, nevertheless bulls volition apt combat to forestall this from occurring.

Ethereum

Ethereum was besides up connected Tuesday, arsenic it excessively rallied for a 2nd consecutive league pursuing caller lows.

The world’s 2nd largest cryptocurrency climbed to an intraday precocious of $1,168.80 earlier, and this came arsenic prices moved backmost supra $1,000 connected Monday.

Tuesday’s highest is astir $300 higher than past weekend’s lows, which saw ETH commercialized adjacent to $850 for the archetypal clip since January 2021.

As of writing, ETH/USD is present trading adjacent to a caller absorption level astir $1,170, with the RSI besides hovering adjacent a ceiling.

Price spot remains somewhat muted contempt these gains, and unless we spot a important surge successful the RSI, we whitethorn not spot immoderate short-term rallies.

However, were a breakout to occur, the apt people for bulls successful ETH would beryllium the $1,700 point, which present looks to beryllium playing the relation of resistance.

Could ETH deed $1,700 earlier the extremity of the month? Leave your thoughts successful the comments below.