Skip to main content

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

http://motleybloggers.com/wp-content/uploads/2022/10/bitcoin-ethereum-technical-analysis-btc-back-above-19000-to-start-the-week.jpg





Bitcoin started the week trading above $19,000, as bulls made a sluggish return to the token, following recent sell-offs. Ethereum also rallied on Monday, after a brief stint trading below $1,300. Overall, the global crypto market is down 1.19% as of writing.


Bitcoin


Bitcoin (BTC) was trading marginally higher on Monday, as bull began to return to crypto markets following recent sell-offs.


Following a low of $19,118.19 on Sunday, BTC/USD raced to an intraday high of $19,491.33 earlier in the day.


Monday’s move saw the world’s largest cryptocurrency climb towards a key price ceiling of $19,500.


Bitcoin, Ethereum Technical Analysis: BTC Back Above $19,000 to Start the Week
BTC/USD – Daily Chart

Looking at the chart, the rebound in price comes as the 14-day relative strength index (RSI) recently broke out of its resistance at 48.00.


As of writing, the index is tracking at 49.42, with the next visible resistance point near the 56.00 level.


Should price strength continue to move towards this point, we will likely see prices move towards the $20,000 mark.

Ethereum


Ethereum (ETH) also surged to start the week, with the token climbing for a second straight session.


After a brief breakout below its floor of $1,275 on Saturday, ethereum has put together a run of back-to-back gains.


Today’s surge has seen the token hit a peak of $1,322.33, which comes a day after it was hovering around the $1,281.29 mark.


Bitcoin, Ethereum Technical Analysis: BTC Back Above $19,000 to Start the Week
ETH/USD – Daily Chart

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


Bulls will likely be tentative to enter at this point, as we near a ceiling of $1,330, with the RSI also nearing an obstacle.


As of writing, the index is tracking at 45.87, which is slightly below a ceiling of 46.00.


Register your email here to get weekly price analysis updates sent to your inbox:




Tags in this story

Do you expect ethereum to move above $1,400 this week? Leave your thoughts in the comments below.








Eliman Dambell


Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.







Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. MotleyBloggers.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.




Read disclaimer




Origina post from
https://motleybloggers.com/bitcoin-ethereum-technical-analysis-btc-back-above-19000-to-start-the-week/

Comments

Post a Comment

Popular posts from this blog

Research Shows Centralized Exchanges Saw the Most Visits This Year From Americans, Koreans, Russians

http://motleybloggers.com/wp-content/uploads/2022/12/research-shows-centralized-exchanges-saw-the-most-visits-this-year-from-americans-koreans-russians.jpg Residents of the United States, South Korea and the Russian Federation have been the most frequent users of centralized exchanges this year, according to a new study. The finding comes after the spectacular crash of FTX, one of the largest such platforms, amid tightening regulations and fewer new users. U.S. Leads by Number of CEX Users, Turkey and Japan Are Also in the Top in Terms of Traffic The U.S., South Korea and Russia together account for 22% of all visits to centralized exchanges (CEX) for cryptocurrencies, according to the 2022-2023 “Global Crypto Industry Overview and Trends” annual report produced by Huobi Research. The estimate is based on data from the top 100 CEXs on active users, trading depth, trading volume, and reliability. With a share exceeding 9%, the United States is the pronounced leader in terms...
Post a Comment
Read more

Kevin O’Leary Tells US Lawmakers FTX Failed Because Binance Intentionally Killed It

http://motleybloggers.com/wp-content/uploads/2022/12/kevin-oleary-tells-us-lawmakers-ftx-failed-because-binance-intentionally-killed-it.jpg Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has told U.S. Congress that he believes the collapsed crypto exchange FTX failed because rival Binance intentionally put it out of business. He said former FTX CEO Sam Bankman-Fried (SBF) told him that Binance, which owned a 20% equity stake in FTX, refused to comply with regulators’ requests whenever FTX applied for a license in different jurisdictions. Kevin O’Leary Shares Why He Thinks FTX Failed With U.S. Senators Shark Tank star Kevin O’Leary shared why he thinks crypto exchange FTX collapsed in a congressional hearing, titled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers,” before the Senate Committee on Banking, Housing, and Urban Affairs on Wednesday. Senator Pat Toomey (R-PA) asked O’Leary, “Why do you believe FTX failed?...
Post a Comment
Read more

Biggest Movers: AVAX Hits 1-Week High, as LTC Also Climbs Following US Inflation Data

http://motleybloggers.com/wp-content/uploads/2022/12/biggest-movers-avax-hits-1-week-high-as-ltc-also-climbs-following-us-inflation-data.jpg Avalanche rose to a one-week high on Tuesday, as markets reacted to the latest inflation report in the United States. Consumer prices rose to 7.1% in November, which was lower than the 7.3% markets had expected. The figure was also 0.6% lower than October’s reading of 7.7%. Litecoin also rebounded on the data, rising by over 6%. Avalanche (AVAX) Avalanche (AVAX) was a notable gainer on Tuesday, as prices surged following the release of U.S. inflation figures. November’s consumer price index (CPI) came in at 7.1%, which was lower than the 7.3% traders were expecting. As a result, AVAX/USD rallied to an intraday high of $14.09, which saw prices up by nearly 10%. AVAX/USD – Daily Chart Today’s rise saw avalanche hit its strongest point since December 5, which was the last time the token was trading above its ceiling at $13.75....
Post a Comment
Read more