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On Tuesday, Bitcoin was trading above $28,000 once more as the death cross between the 10-day and 25-day moving averages was getting close. An upwards bullish crossover between the two trend lines is getting closer and closer. Today’s price of Ethereum was also somewhat higher.
Bitcoin
On Tuesday, Bitcoin (BTC) surged again above $28,000, with a potential death cross indicating impending bullish momentum.
BTC/USD reached a high of $28,044.76 today, up from a session low of $27,563.88.
Today’s move led to Bitcoin remaining close to a three-week high at $28,473, which was marginally below a ceiling at $28,500.
The data shows that Tuesday’s recovery occurred while the relative strength index (RSI) maintained above a floor at 53.00.
At the time of writing, the index is now tracking at 54.29, with a ceiling of 57.00 still a possible target for current bulls.
Early gains have somewhat diminished as the session continues because market uncertainty remains strong.
Ethereum
Today’s session saw a bit more stability for Ethereum (ETH), which spent much of the day trading over $1,900.
As the session progressed on Tuesday, ETH/USD soared to an intraday high of $1,916.57 from a low of $1,879.08.
Similar to BTC, ethereum tracked near its highest point since May 8 during this move.
The 10-day (red) and 25-day (blue) moving averages have already crossed upward, which is likely to encourage further bulls to reenter the market.
In the event this happens, a ceiling at $1,930 will be one of the last points of resistance preventing a move above $2,000.
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