Bitcoin was trading higher for the second straight session on Tuesday, marking the first time it has seen back-to-back gains in two weeks. ETH also climbed higher in today’s session as the bulls were re-entering the market.
BTC was trading higher for the second straight session on Tuesday, as the market continues to move away from recent lows.
Prices hit an intraday peak of $21,387.65 in today’s session, less than a day after trading as low as $19,905.48.
Today’s price increase saw BTC/USD go for back-to-back sessions for the first time since the first of the month.
The bulls have re-entered the market with relative strength over the past few sessions, as some believe that we may have seen the price move past its levels.
Looking at the charts, further lows are likely to lie ahead, especially if the 14-day RSI moves back to its recent low of 19.
This could see BTC price near $15,000, although the bulls may struggle to prevent this from happening.
Ethereum was also up on Tuesday, as it rallied for the second straight session after recent lows.
The world’s second largest cryptocurrency earlier climbed to a high of $1,168.80, which comes as the price surged above $1,000 on Monday.
Tuesday’s peak is nearly $300 higher than last weekend’s low, which saw ETH trade near $850 for the first time since January 2021.
At the time of writing, ETH/USD is now trading near a new resistance level of around $1,170, with the RSI hovering near a range.
Despite these gains, the strength of the price remains somewhat muted, and we may not see any short-term rally until we see a significant rally in the RSI.
However, if there is a breakout, a likely target for the bulls in ETH will be the $1,700 mark, which is now acting as resistance.
Can ETH reach $1,700 before the end of the month? Give your thoughts in the comment below.
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