Ethereum rose to an eight-month high on Tuesday as the bulls gradually began to return to the cryptocurrency markets. As the session matured, the global market capitalization rose 1.27% at the time of writing. Bitcoin has approached a key resistance level at $28,500.
Bitcoin
bitcoin (BTC) continued to trade near a key resistance level on Tuesday as volatility in the market remained high.
BTC/USD rose to a high of $28,433.74 earlier in today’s session, which follows from a low of $27,276.72 on Monday.
As a result of today’s surge, bitcoin moved close to its recent price high of $28,500, however bulls were unable to reach this point.
Looking at the chart, this seems to be due to the fact that the RSI continued to hover near a bottom at 60.
At time of writing, the index is at 61.00, with the next visible top of 65.00 a possible target for buyers.
If this level is reached, there is a strong possibility that BTC will trade above $28,500.
Ethereal
On the other hand, ethereum (ETH) was mostly higher in today’s session, as bullish sentiment made an unexpected return.
After a minimum of $1,771.15 to start the week, ETH/USD rose to an intraday high of $1,871.35 on Tuesday.
The rally on Tuesday saw the bulls push Ethereum back to its strongest since Aug. 17, when the price peaked at $1,957.
One of the catalysts for today’s rise seems to be a break of the 61.50 zone of the RSI indicator.
Currently, price strength is at 62.54, with a next top at 65.00, a possible target for bulls.
If this point is reached, there is a good chance ETH It will list for $1,900.
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