Fun

Bitcoin, Ethereum Technical Analysis: ETH Nears $1,500, Following Strong Weekend Gains

News Feed - 2022-07-18 09:07:35

Bitcoin, Ethereum Technical Analysis: ETH Nears $1,500, Following Strong Weekend Gains


Ethereum was once again higher on Monday, as prices of the token moved towards $1,500 following recent gains. Bitcoin was also in the green, as prices climbed close to a one month high, after surging above $22,000 to start the week. Bitcoin


Bitcoin (BTC) was in the green to start the week, as the weekend’s bullish momentum continued in today’s session, sending prices over $22,000.


Following Sunday’s low of $20,778.18, BTC/USD surged to an intraday peak of $22,430.62 earlier today.


The move has seen bitcoin briefly break out of a key resistance level for the second time in under ten days, however it is still uncertain if the surge will be sustained this go around. BTC/USD – Daily Chart


This resistance at the $22,300 has been one of the main stumbling blocks for price growth, with bears typically re-entering at that point.


As seen on the chart, this has somewhat already occured with bullish pressure turning bearish, as traders abandon earlier positions, choosing to secure gains instead.


This also coincides with the 14-day RSI hitting a ceiling of its own at 55, which is its highest point in over three months.


Ethereum


Ethereum (ETH) was the big gainer out of the top two tokens on Monday, as it too raced to a one month high, however, climbing by nearly 10% in the process.


Ethereum started the week by hitting a high of $1,493.23 on Monday, which is its highest point since June 12.


This peak comes following six consecutive days of higher highs, pushing ETH past several key price hurdles in the process. ETH/USD – Daily Chart


The last of these was the resistance point of $1,300 which was broken on Saturday, and thus opening the flood gates to an onslaught of bulls.


Like bitcoin, the 14-day RSI indicator is now tracking at a three month high above 65, which in the past has been a point of uncertainty.


Although very close, prices have not yet reached the $1,500 point, and it appears that this is the point that bulls are targeting.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Bitcoin, BTC, ETH, Ethereum


Will ether hit $1,500 by the end of the day? Leave your thoughts in the comments below. Eliman Dambell


Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX. Billionaire Thomas Peterffy Plans to Buy Bitcoin Despite Concerns BTC Could "Become Worthless or Outlawed" MARKETS AND PRICES | 2 days ago Finder"s Fintech Experts Predict Cardano Will End the Year at $0.63 per Unit MARKETS AND PRICES | 3 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articlePlay-to-Earn Fantasy Sports Game, Ultimate Champions, Announces July 25th Launch Date for Its CHAMP Token Next articleBitcoin Treasuries Records Show $2.1 Billion in BTC Was Erased From Balance Sheets Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days


Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design

News Feed

Spain Will Provide 8 Million Euros in Grants to Develop Video Game and Metaverse Experiences
Spain Will Provide 8 Million Euros in Grants to Develop Video Game and Metaverse Experiences The Ministry of Culture and Sports of Spain has decided to direct 8 million euros ($8.5
Croatian E-bike Company Greyp Bikes Integrates Cryptocurrency Payments
Croatian E-bike Company Greyp Bikes Integrates Cryptocurrency Payments Greyp Bikes, a company founded by Croatian innovator and entrepreneur Mate Rimac, has integrated crypto payme
SEC tries again for Debt Box suit dismissal with option to refile
Derek Andersen2 hours agoSEC tries again for Debt Box suit dismissal with option to refileThe SEC says case dismissal without prejudice is “normally granted” when a plaintiff requests it, but the court has criticized
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Following Week of Intense Volatility
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Following Week of Intense Volatility Following what has been a turbulent week of trading, bitcoin prices consolidated to
Ethereum traders say ETH price at risk of a deeper correction to $1.6K
Nancy Lubale2 hours agoEthereum traders say ETH price at risk of a deeper correction to $1.6KMultiple analysts believe that Ethereum price is likely to touch new lows near $1,600.982 Total views1 Total sharesListen to ar
Prashant Jha12 hours agoGoogle Cloud teams up with MultiversX amid blockchain firm’s focus on metaverseMultiversX also announced an array of new features for xPortal, with tools to build next-gen metaverse features.220
Germany’s 2022 Inflation Rate the Worst in More Than 30 Years
Germany"s 2022 Inflation Rate the Worst in More Than 30 Years In a year that was characterized by surging energy and food prices, Germany’s average inflation rate in 2022 ros
How to pick tokens for exchange listings? New report offers help
Helen Partz11 hours agoHow to pick tokens for exchange listings? New report offers helpCrypto exchange Bitget and Nansen Research collaborated to help exchanges evaluate the potential of a cryptocurrency depending on the
Berkshire Hathaway’s Charlie Munger Says Government Should Ban Bitcoin — Calls Crypto ‘Venereal Disease’
Berkshire Hathaway"s Charlie Munger Says Government Should Ban Bitcoin — Calls Crypto "Venereal Disease" Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s
Spot Bitcoin ETFs Go ‘Pac-Man’ Mode, Gobble Up $1.2 Billion In 1 Week
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Savannah Fortis12 hours agoTwo-thirds of AI Chrome extensions could endanger user security: DataData from an Incogni report revealed that 69% of AI extensions for Google Chrome have a high risk impact on users’ cyberse
7-Eleven, CVS, Rite Aid: Libertyx Adds 20,000 Stores to Buy Bitcoin With Cash
7-Eleven, CVS, Rite Aid: Libertyx Adds 20,000 Stores to Buy Bitcoin With CashLibertyx has expanded its network to include 20,000 7-Eleven, CVS, and Rite Aid Pharmacy stores where cu