Bitcoin, Ethereum Technical Analysis: ETH Stays Above $2,900 as Traders Eye $3,000 Ceiling — Market Updates Bitcoin News

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Ethereum stayed above $2,900 to begin the week, as the world’s second biggest cryptocurrency combined its current gains. Bitcoin was likewise combining, as it continued to trade above $41,000 throughout Monday’s session.

Bitcoin

Despite a selloff to end recently, costs of BTC continued to hover above $41,000 on Monday, as market bulls appear to still be keeping their positions.

Following a low of $40,668.04 earlier in today’s session, BTC/ USD increased to an intraday high of $41,607.47 on Monday.

Although BTC is now trading around the $41,379 location, it stays 0.45% lower than the other day’s high above the $42,200 ceiling.

BTC/ USD– Daily Chart

Today’s session saw bitcoin fall listed below its flooring of $40,580, which is its least expensive level considering that last Friday, as markets were getting ready for the weekend.

Looking at the chart, the turnaround in cost momentum came as BTC struck its long-lasting resistance point of $42,200, causing bears returning to the marketplace.

In addition to this ceiling, the 14-day RSI was likewise not able to move past its own ceiling of 55, and now sits at 51.5.

Should this momentum continue, we might see bitcoin listed below $40,000 in the approaching days.

Ethereum

Although BTC fell, ETH stayed partially greater since composing, as costs continued to trade above the $2,900 level.

On Monday, ETH/ USD struck an intraday high of $2,934.69, as costs rebounded following a selloff throughout Sunday’s session.

The cost of ETH fell as the property approached the $3,010 ceiling, which comes as traders appear to have actually closed positions, causing a turn-around, as seen prior to at this level.

ETH/ USD– Daily Chart

Despite the turnaround which came, there sufficed bullish pressure in ETH to keep costs from falling listed below $2,900, with ETH/ USD now up over 14% in the last 7 days.

This momentum might see additional gains come today, as bulls appear to still exist at this level.

Could we see a complete ETH breakout above $3,000 today? Leave your ideas in the remarks listed below.

Eliman Dambell

Eliman brings a varied perspective to market analysis, having actually worked as a brokerage director, retail trading teacher, and market analyst in Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This post is for educational functions just. It is not a direct deal or solicitation of a deal to offer or purchase, or a suggestion or recommendation of any services, items, or business.

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