Fun

Bitcoin, Ethereum Technical Analysis: Ethereum Back Above $1,300 to Start the Week

News Feed - 2022-10-24 09:10:08

Bitcoin, Ethereum Technical Analysis: Ethereum Back Above $1,300 to Start the Week


Ethereum remained close to a three week high on Monday, as prices rallied following a turbulent weekend. Bullish sentiment appears to have somewhat returned to crypto markets to start the week, with the market cap trading 1.56% high as of writing. Bitcoin was also in the green in today’s session. Bitcoin


Bitcoin (BTC) was trading close to a key resistance level on Monday, as bullish momentum seemingly returned to crypto markets.


Following a low of $19,124.20 on Sunday, BTC/USD surged to a peak of $19,646.65 earlier in today’s session.


This move saw the token briefly move past its ceiling of $19,600, however, as the day progressed, fell back below this point. BTC/USD – Daily Chart


As of writing this, BTC/USD is currently trading at $19,426.71, which comes as the 14-day relative strength index (RSI) collided with a resistance point of its own.


The index is currently tracking at 50.25, which comes after price strength failed to move past a ceiling of 52.00.


Bulls will likely continue to make another attempt to move beyond this point, and should this occur, we will see BTC back above $20,000. Ethereum


In addition to bitcoin, ETH/USD was trading close to a three-week high on Monday, after breaking out of a key resistance.


ETH/USD raced to an intraday high of $1,368.43 earlier today, which is marginally below its highest point since October 6.


Today’s move comes as the price ceiling of $1,330 was broken during yesterday’s session, giving way to bulls reentering the market. ETH/USD – Daily Chart


The RSI on ethereum also surged beyond a hurdle, moving past its own resistance of 50.30, and is tracking at 52.82 as of writing.


This recent rise in bullish pressure has led to a shift in momentum, with the 10-day (red) moving average now nearing a crossover with its 25-day (blue) counterpart.


Should this trend continue, then it is inevitable that ethereum will be trading above $1,400 in the coming days.


Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Bearish, Bitcoin, BTC, BTC/USD, Bullish, Charts, ETH, ETH/USD, Ethereum, Market Conditions, Markets, Technical Analysis


Do you expect bullish momentum to remain in ethereum this week? Leave your thoughts in the comments below. Eliman Dambell


Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Biggest Movers: ADA Nears 1-Week Peak, as MATIC Moves to Highest Point Since September MARKET UPDATES | 9 hours ago Biggest Movers: QNT Extends Recent Gains, Climbing by 10% on Saturday MARKET UPDATES | 2 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleChainalysis: Stablecoins Used to Fight Devaluation and Inflation in Latam Next articlePlanet IX Is Creating a New Framework for Esports by Implementing On-Chain Gaming 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 ItFidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand"


Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether

News Feed

Tom Mitchelhill3 hours agoEffective altruism fueled SBF’s ‘ridiculous’ actions at FTX: Ex-Alameda engineer“No sane person would make those decisions,” says a former engineer at Alameda Research about what ultim
Former Bitcoin Dev Gavin Andresen Revises 2016 Blog Post, Calls Trust in Craig Wright a ‘Mistake’
Former Bitcoin Dev Gavin Andresen Revises 2016 Blog Post, Calls Trust in Craig Wright a ‘Mistake’ During the first week of Feb. 2023, the United Kingdom Court of Appeal overtur
Prashant Jha10 hours agoBreaking: PayPal launches PYUSD stablecoin for paymentPayment processing giant PayPal launched crypto payments in 2020 and has since been actively involved in the sector.7525 Total views135 Total
Nicholas Anthony6 hours agoIRS proposes unprecedented data-collection on crypto usersThe IRS is looking to require crypto service providers to collect unprecedented swaths of data about their users — including names a
Solana Price Eyes Breakout Toward $143 As Inverse Head/Shoulders Pattern Takes Shape
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
Dash Nigeria Takes Digital Currency Education Campaign to Regulators and Key Institutions
Dash Nigeria Takes Digital Currency Education Campaign to Regulators and Key InstitutionsWith sophisticated fraud schemes seemingly overwhelming the African crypto market, there is
Bitcoin price falls to $65K as $400M crypto market liquidation rocks BTC and altcoins
Nancy Lubale3 hours agoBitcoin price falls to $65K as $400M crypto market liquidation rocks BTC and altcoinsBitcoin price sees sharp sell-off as today’s downside move liquidates heaps of BTC and altcoin traders who wer
Japan’s Financial Giant SBI to Launch Cryptocurrency Fund
Japan"s Financial Giant SBI to Launch Cryptocurrency Fund Japanese financial conglomerate SBI Holdings is reportedly launching a crypto fund that will invest in several cryptocurre
John McAfee Pumps Crypto From Prison, Denies Tax Fraud and Murder Charges
John McAfee Pumps Crypto From Prison, Denies Tax Fraud and Murder Charges John McAfee has shared many details about his life in Spanish prison and chances of ext
Arijit Sarkar37 minutes agoEthereum OFAC compliance dips to 45% post-Merge upgradeThe list of top censorship offenders is populated by popular platforms such as Binance, Celsius Network, Bitfinex, Ledger Live, Huobi (HTX
Report: Israel Defense Ministry Seized Crypto Wallets Holding Hamas-Destined Funds
Report: Israel Defense Ministry Seized Crypto Wallets Holding Hamas-Destined Funds Israel’s Defense Ministry seized cryptocurrency wallets holding funds that were destined f
Reports of ‘bleached’ counterfeit bills crop up across North America
Martin Young3 hours agoReports of ‘bleached’ counterfeit bills crop up across North AmericaDodgy dollars are appearing everywhere, from Texas to Hawaii to Canada, as fiat counterfeiting is seemingly making a comeback