Bitcoin, Ethereum Technical Analysis: ETH Stays Above $2,900 as Traders Eye $3,000 Ceiling 

Ethereum remained supra $2,900 to commencement the week, arsenic the world’s 2nd largest cryptocurrency consolidated its caller gains. Bitcoin was besides consolidating, arsenic it continued to commercialized supra $41,000 during Monday’s session.

Bitcoin

Despite a selloff to extremity past week, prices of BTC continued to hover supra $41,000 connected Monday, arsenic marketplace bulls look to inactive beryllium holding onto their positions.

Following a debased of $40,668.04 earlier successful today’s session, BTC/USD roseate to an intraday precocious of $41,607.47 connected Monday.

Although BTC is present trading astir the $41,379 area, it remains 0.45% little than yesterday’s precocious supra the $42,200 ceiling.

BTC/USD – Daily Chart

Today’s league saw bitcoin autumn beneath its level of $40,580, which is its lowest level since past Friday, arsenic markets were preparing for the weekend.

Looking astatine the chart, the reversal successful terms momentum came arsenic BTC deed its semipermanent absorption constituent of $42,200, starring to bears re-entering the market.

In summation to this ceiling, the 14-day RSI was besides incapable to determination past its ain ceiling of 55, and present sits astatine 51.5.

Should this momentum persist, we could spot bitcoin beneath $40,000 successful the upcoming days.

Ethereum

Although BTC fell, ETH remained marginally higher arsenic of writing, arsenic prices continued to commercialized supra the $2,900 level.

On Monday, ETH/USD deed an intraday precocious of $2,934.69, arsenic prices rebounded pursuing a selloff during Sunday’s session.

The terms of ETH fell arsenic the plus approached the $3,010 ceiling, which comes arsenic traders look to person closed positions, starring to a turnaround, arsenic seen earlier astatine this level.

ETH/USD – Daily Chart

Despite the reversal which came, determination was capable bullish unit successful ETH to support prices from falling beneath $2,900, with ETH/USD present up implicit 14% successful the past 7 days.

This momentum could spot further gains travel this week, arsenic bulls look to inactive beryllium contiguous astatine this level.

Could we spot a afloat ETH breakout supra $3,000 this week? Leave your thoughts successful the comments below.

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