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As prices rose back above $27,000 to begin the week, Bitcoin prices turned positive on Monday. Over the weekend, prices fell to a two-month low, although momentum has somewhat changed. Also today, ethereum increased.
Bitcoin
To start the week, Bitcoin (BTC) surged back above the $27,000 mark as sentiment began to soften following last week’s bear run.
BTC/USD accelerated to an intraday top of $27,521.62 earlier in today’s session after hitting a low of $26,762.25 on Sunday.
The move saw the biggest cryptocurrency in the world continue to rise over a previous two-month low and a floor at $26,500.
The price increase on Monday saw bitcoin go higher for a second day in a row, breaking over a ceiling on the relative strength index (RSI).
At the time of writing, price strength is now tracking at 43.66, which is marginally above the aforementioned resistance at 43.00.
Bulls will now likely be looking to reenter the $28,000 level, which was last hit this past Thursday.
Ethereum
With a surge above $1,800 during today’s session, Ethereum (ETH) also saw gains to start the week.
Monday saw ETH/USD reach a high of $1,834.94, less than 24 hours after hitting a low of $1,787.54.
Similar to BTC, ETH has increased today for the second straight day, breaking a recent eight-day losing run.
This resulted in ethereum dropping to its weakest point since March, however it now appears that momentum has now shifted.
Price strength on ethereum has also risen, climbing above a key point of resistance at the 44.00 level.
The index is now tracking at the 45.85 mark, with the next ceiling at the 50.00 level.
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