Bitcoin, Ethereum Technical Analysis: ETH, BTC Rebound After Weekend Selloff

Bitcoin and ethereum prices rebounded connected Monday, aft declining passim the weekend. As the Russian penetration of Ukraine heightened, crypto traders appeared to instrumentality a risk-off attack this weekend, nevertheless immoderate bulls seemed to instrumentality to commencement the week.

Bitcoin

Bitcoin ended 2 consecutive sessions of diminution to commencement the week, arsenic the world’s largest cryptocurrency seemed to person recovered its terms floor.

BTC/USD deed an intraday debased of $37,268.98 earlier successful today’s session, with prices present climbing towards absorption supra $40,000.

This rebound comes aft prices recovered enactment astatine $37,000 connected Sunday, which was the lowest level BTC had deed since Friday.

BTC/USD – Daily Chart

Looking astatine the chart, Monday’s determination comes conscionable arsenic the 14-day RSI has marginally breached past its ain ceiling astatine 46, and is presently tracking astatine 47.84.

In summation to this, the momentum of the 10-day moving mean (red) is present moving successful a sideways path, which could acceptable the level for a imaginable upward alteration successful direction.

With BTC present hovering connected the periphery of $40,000, past does amusement that terms uncertainty heightens here.

Bulls volition look to evade these bears which typically unrecorded successful this zone.

Ethereum

The terms of ETH was besides higher to commencement the week, with a enactment level besides being established wrong the world’s 2nd largest cryptocurrency.

Although higher today, ETH/USD is trading 2.92% little than astatine the aforesaid constituent yesterday, erstwhile prices fell to an intraday time debased of $2,581.62.

This debased was adjacent to ETH’s semipermanent level of $2,550, and arsenic we neared this floor, bulls pushed prices up distant from these levels.

ETH/USD – Daily Chart

As such, ETH/USD deed an intraday precocious of $2,748.15 to commencement the week, arsenic immoderate anticipation that we whitethorn soon recapture the $2,900 resistance.

One of the lone hurdles that could forestall this from happening is the information that the 14-day RSI has present deed its ceiling of 48.

Can bulls propulsion terms spot beyond this point? Leave your thoughts successful the comments below.

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