Bitcoin continued to hover around the $23,000 level on Jan. 23, as bullish sentiment remained high in markets. Over the weekend the world’s largest cryptocurrency rose to its strongest level since August, with bulls moving to consolidate these gains. Ethereum also traded in the green today, remaining above $1,600 in the process.
Innehåll
Bitcoin
Bitcoin (BTC) continued to trade near a five-month high to start the week, as sentiment in crypto markets remained bullish.
Efter en låg av $22,387.90 på söndag, BTC/USD hit an intraday peak of $23,056.73 tidigare under dagens pass.
På lördag, BTC rose to a high of $23,375, which was its strongest point since August 18, and it appears as though bulls are hoping to recapture this point.
In order to achieve this, the 14-day relative strength index (RSI) will likely need to move back towards a ceiling at 91.00.
För närvarande, the index is at the 85.26 level, which is already overbought, and this could lead to some opting to secure gains and abandon previous positions.
När jag skrev, BTC is trading at $22,876.55, which is marginally higher than Sunday’s peak.
Ethereum
Ethereum (ETH) also appeared to be consolidating the weekend’s gains, with prices remaining above the $1,600 märke.
På måndag, ETH/USD has so far risen to a peak of $1,658.02, which is relatively close to Saturday’s four-month high at $1,680.
Today’s peak comes as the world’s second largest cryptocurrency rebounded from a floor around the $1,610 märke.
Tittar på diagrammet, the rebound took place following a failed breakout of a support point of 75.00 on the RSI indicator.
När jag skrev, the indicator is tracking at 75.23, with the next visible resistance level at 80.00 zon.
ETH bulls will likely be still targeting a move above $1,700, and for this to occur, de 80.00 mark must first be overcome.
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