Bitcoin, Ethereum Technical Analysis: ETH Reaches 1-Month High Above $3,000, as BTC Hits $43,000

Ethereum roseate to a one-month precocious supra $3,000 connected Tuesday, arsenic the planetary cryptocurrency marketplace spot roseate by astir 4%. Bitcoin was besides higher during today’s session, moving to its highest constituent successful implicit 3 weeks.

Bitcoin

Bitcoin roseate to its highest level successful 3 weeks connected Tuesday, arsenic the world’s largest cryptocurrency climbed beyond the $43,000 level.

Following a debased of $40,850.91 during Monday’s session, BTC/USD roseate to an intraday precocious of $43,389 during today’s session.

This is the highest level BTC has traded since March 3, erstwhile prices were connected their mode down from a precocious of implicit $45,000.

BTC/USD – Daily Chart

Tuesday’s surge successful terms comes arsenic the 14-day RSI moved past its caller ceiling of 54.40, and is present tracking astatine 57.7, which is different multi-week high.

Looking astatine the chart, today’s determination sent prices adjacent to a short-term absorption level of $43,425, which triggered a pullback, arsenic bulls apt secured immoderate gains.

The 10-day and 25-day moving averages person besides continued to widen caller upwards momentum, which could beryllium a bully motion for bulls targeting $45,000 successful upcoming days.

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Ethereum

ETH was up by 2.3% arsenic of writing, arsenic the world’s second-largest cryptocurrency extended its caller gains

On Tuesday, ETH/USD deed an intraday precocious of $3,022.21, arsenic prices marginally moved beyond the semipermanent absorption level of $3,020.

This determination means that ethereum is present astir 20% higher successful the past 7 days, aft a tally that saw it summation for 8 of the past 9 sessions.

ETH/USD – Daily Chart

Price spot has besides peaked, with the 14-day RSI indicator present tracking supra 60, which is the highest it has been since February 9.

However, present that we are comparatively overbought, and with prices trading astatine a historically bearish absorption level, the signifier could beryllium acceptable for a reversal.

Should upwards momentum continue, what is the adjacent terms people for ETH bulls? Leave your thoughts successful the comments below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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