Bitcoin, Ethereum Technical Analysis: BTC Back Above $19,000 to Start the Week

Bitcoin started the week trading supra $19,000, arsenic bulls made a sluggish instrumentality to the token, pursuing caller sell-offs. Ethereum besides rallied connected Monday, aft a little stint trading beneath $1,300. Overall, the planetary crypto marketplace is down 1.19% arsenic of writing.

Bitcoin

Bitcoin (BTC) was trading marginally higher connected Monday, arsenic bull began to instrumentality to crypto markets pursuing caller sell-offs.

Following a debased of $19,118.19 connected Sunday, BTC/USD raced to an intraday precocious of $19,491.33 earlier successful the day.

Monday’s determination saw the world’s largest cryptocurrency ascent towards a cardinal terms ceiling of $19,500.

BTC/USD – Daily Chart

Looking astatine the chart, the rebound successful terms comes arsenic the 14-day comparative spot scale (RSI) precocious broke retired of its absorption astatine 48.00.

As of writing, the scale is tracking astatine 49.42, with the adjacent disposable absorption constituent adjacent the 56.00 level.

Should terms spot proceed to determination towards this point, we volition apt spot prices determination towards the $20,000 mark.

Ethereum

Ethereum (ETH) besides surged to commencement the week, with the token climbing for a 2nd consecutive session.

After a little breakout beneath its level of $1,275 connected Saturday, ethereum has enactment unneurotic a tally of back-to-back gains.

Today’s surge has seen the token deed a highest of $1,322.33, which comes a time aft it was hovering astir the $1,281.29 mark.

ETH/USD – Daily Chart

Despite today’s gains, momentum successful ETH/USD continues to beryllium bearish, with some the 10-day (red) and 25-day (blue) moving averages trending downwards.

Bulls volition apt beryllium tentative to participate astatine this point, arsenic we adjacent a ceiling of $1,330, with the RSI besides nearing an obstacle.

As of writing, the scale is tracking astatine 45.87, which is somewhat beneath a ceiling of 46.00.

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Do you expect ethereum to determination supra $1,400 this week? Leave your thoughts successful the comments below.

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