Despite rising prices in today’s session, Bitcoin continued to trade for less than $ 20,000 on Wednesday following a recent fall.nevertheless ETH It was also slightly higher, and its price was trading for less than $ 1,100 again. Overall, the crypto market was almost 1% higher at the time of writing.
Bitcoin
Bitcoin trading was slightly higher on Wednesday, but after the recent sale, token prices are still below $ 20,000.
The world’s largest cryptocurrency rose to a daytime high of $ 19,973.58 in today’s session as the Bulls tried to re-enter the $ 20,000 region.
However, after four days of losing streak, sentiment remains bearish and the Bulls are somewhat tentative about taking a long position.
Today’s bounce began with the 14-day RSI rising as well, temporarily breaking out of previous support and acting as a new resistance level at 37.40.
If you look at the chart, you can see that the bulls have historically bought dips at this point, and as the 10-day moving average continues to rise, the momentum continues to rise.
At the time of writing, the Relative Strength Index has been tracked at 38.63 and the future limit is the 41.60 mark.
Ethereum
Like Bitcoin ETH Also, in today’s session, I rebounded because I recorded four consecutive losses on the day of the hump.
At the time of writing ETH/ USD moved to a high of $ 1,086.58 on Wednesday. It has been trading at a low of $ 1,037.56 less than a day ago.
Following yesterday’s lows, where prices fell below support at $ 1,050, the Bulls chose to push the tokens higher by buying dips.
As you can see on the chart, at 35.50 the price strength couldn’t get out of its own floor, so the choice came to buy. This was probably an important signal for traders.
Overall, tokens have fallen almost 6% from the same point last week, but prices have been fairly stable since falling below $ 900 almost a month ago.
At current floor-owning companies, the Bulls may be optimistic about potential price increases, but up to that point they may be further integrated.
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Do you expect ETH How to break below the $ 1,050 floor in July? Please leave your thoughts in the comments below.
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