BTC, ETH Crossed Key Resistance Levels On Tuesday – Market Update Bitcoin News

Bitcoin was trading at its highest level in the past five days on Tuesday as the price rose above a key resistance point. Ethereum also recovered to a similar milestone early in today’s session as the crypto market continues to pull away from the recent bearish sentiment. At the time of writing, global market capitalization he is trading 0.38% higher.

Bitcoin

Bitcoin hit a five-day high on Tuesday as bearish sentiment began to fade.

BTC/USD hit an intraday high of $19,667.00 early in today’s session. This continues from Monday’s bottom of $19,427.00.

The move pushed the price above the major resistance point of $19,550, reaching its strongest point since Friday in the process.

Looking at the chart, today’s move is due to the 14-day Relative Strength Index (RSI) continuing to trade above its 48.50 cap.

As of this writing, the index is tracking 51.18, although some previous bulls have closed positions and are now trading slightly lower at $19,584.52.

Despite this slight price drop, the bulls are likely to continue targeting $20,000, which has not fallen since October 6th.

ethereum

In addition to BTC, Ethereum (ETH) mostly rose on Tuesday as the token continued to trade above $1,300.

Following the week’s opening low of $1,315.31, the token surged above the key cap and headed for today’s high of $1,339.09.

The $1,330 cap was mostly set over the past two weeks, but ETH/USD has fallen since the previous breakout.

The world’s second-largest cryptocurrency is currently just below today’s peak of $1,326.75.

Similar to Bitcoin, ETH bulls retreated somewhat as market uncertainty increased near resistance levels.

If the bulls overcome this current turbulence, the next target for Ethereum traders is likely to be the upper end near $1,380.

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Could Ethereum fall after failing to rise above current resistance? Leave your thoughts in the comments below.

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