Bitcoin and Ethereum Technical Analysis: Will Prices Continue to Rise?

  • Bitcoin price managed to stay above 30,000 dollars.
  • If ETH bulls succeed, ETH can climb to higher levels.

Bitcoin is still trading above 30,400 dollars and ETH above 2,100 dollars. What will happen next? Current price analysis.

Bitcoin (BTC)

On Saturday, when the crypto markets consolidated to start the weekend, Bitcoin (BTC) fell below 31,000 dollars. BTC/USD, which peaked at 31,005.61 dollars on Friday, fell to a low of 30,044.50 dollars in the early hours of the day.

Yesterday’s peak seems to have prompted bulls to protect their gains, as Bitcoin reached its highest level since June 7th.

btc-usd-coinbase

BTC/USD Daily Price Chart

Looking at the chart, the price drop occurred when the 14-day relative strength index (RSI) hit a ceiling at 71.00.

At the time of writing, the index is currently at 70.18, slightly higher than the 68.00 bottom. If the RSI falls below 70, there is a high probability that more bulls will empty their previous positions to protect their recent profits.

Ethereum (ETH)

Ethereum (ETH)

Although lower than Friday’s peak, Ethereum (ETH) has continued to trade above $2,100. ETH/USD fell to a low of $2,049.08 during the day but later recovered and is currently trading at $2,103.18.

This is slightly lower than yesterday’s peak of $2,120.59, and ETH is trading at its strongest point since May of last year.

eth-usd-coinbase

ETH/USD Daily Price Chart

Ethereum, the world’s second-largest cryptocurrency, faced a ceiling in the RSI indicator like Bitcoin.

The above-mentioned resistance point of 75.00 was reached on Friday, and the index is currently being followed at 74.88.

If Ethereum bulls can surpass this point, there is a possibility that prices will move closer to $2,200 this weekend.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

Spot Ethereum ETFs Launch Confirmed on CBOE for July 23

The Chicago Board Options Exchange (CBOE) has...

Dogecoin Hits 34-Day High Amid Breakout, Investors Eye Potential Pullback

Dogecoin (DOGE), a leading memecoin, has recently...

Metaplanet’s Bold Bitcoin Investments Propel Share Price by 800% in 2023

Japanese investment firm Metaplanet has demonstrated a...

Uphold Research Head Warns of Surge in XRP Phishing Airdrop Scams

Dr. Martin Hiesboeck, the head of research...
spot_imgspot_imgspot_imgspot_img

PRO Analysis

Solana Price Breaks 4-Month Stagnation with 41.3% Surge and $172.2 Target

Solana recently ended a 4-month period of...

Dogwifhat Price Targets $4 Amid Strong Bullish Momentum

Dogwifhat is experiencing a notable upward momentum...

BOOK OF MEME Coin Soars 47% Amid Bullish Patterns: Potential To Hit $0.015

BOOK OF MEME price experiences a significant surge,...
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Avalanche Price Analysis: AVAX Surges 45% as TVL and Open Interest Reflect Investor Confidence

Last week saw Avalanche's price surge by 45% to reach $31.4, with strong backing from a breakout in the falling...

Solana Price Breaks 4-Month Stagnation with 41.3% Surge and $172.2 Target

Solana recently ended a 4-month period of consolidation with a breakout from a triangle pattern. The SOL price surged 41.3% to...

Bitcoin Price Analysis: BTC Targets $80,000 Amid ETF Inflows and Whale Accumulation

Bitcoin's recent price movements show a notable V-shaped recovery, demonstrating robust growth from $53,500 to $67,617, marking a 26.2% increase. ...