Following a tumultuous start to the week, Bitcoin returned to the green on Tuesday, with the token rising above $20,000. The move broke past a key resistance level in the process as prices moved to their highest level in two weeks. Ethereum was trading high as it neared the $1,400 level.
Bitcoin
Bitcoin (BTC) hit a two-week high on Tuesday, as the signal rebounded following a recent bearish spell.
Following a low of $19,006.11 to start the week, BTC/USD reached an internal high of $20,294.34 on Tuesday.
This is the highest point at which the token has traded since September 14, and is slightly above the $20,250 resistance level.
As of writing, BTC is still trading slightly above this ceiling, with the 14-day Relative Strength Index (RSI) also tracking above the same threshold.
The index currently sits at a reading of 52.72, which is above its own resistance level of 49.00.
If price strength continues to trend upwards, we could see BTC break above $21,000 in the coming days.
Ethereum
On Tuesday, ethereum (ETH) was also trading higher, with the world’s second largest cryptocurrency returning to the $1,400 level.
ETH/USD rose to $1,395.31 earlier in the day, which is the highest point the token has reached in the last five days.
The move comes in the wake of recent resistance at $1,335, with the RSI also crossing its ceiling.
In this case, 39.50 points was the biggest barrier to price increase last week.
As of writing, the index is tracking at 45.00, which is yet another resistance point, however, despite the uncertainty, the bulls have maintained their position so far.
Many expect Ethereum to break above the $1,400 mark at some point in today’s session, with the $1,410 level likely to be an exit.
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Could we see ethereum climb to $1,500 this week? Leave your thoughts in the comments below.
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