Bitcoin (BTC) is currently in a consolidation phase, remaining below a key resistance level for the third consecutive day. Despite briefly reaching a peak of $30,789.11 earlier in the day, BTC is still unable to break the resistance at $30,800. This may be due to the 14-day relative strength index (RSI) hovering below a ceiling of 69.00, currently at 66.64. It is likely that BTC will continue this trend until U.S. markets reopen after the Independence Day break.
Key Points:
1. BTC remains below a key resistance level at $30,800.
2. The RSI is flatlining around 66.64, indicating a lack of momentum.
3. The consolidation trend may continue until U.S. markets reopen.
4. Ethereum (ETH) is making steady gains and approaching the $2,000 mark.
5. ETH’s RSI is rising and currently at 62.69, suggesting potential further gains.
In contrast to BTC, Ethereum (ETH) has been experiencing steady gains and is moving towards the $2,000 mark. On Monday, ETH/USD reached an intraday high of $1,973.64, rebounding from a bottom of $1,895.91. The RSI for ETH has surpassed a hurdle at 60.00 and is now tracking at 62.69. If this momentum continues to strengthen, there is a good chance that ETH will surpass $2,000 in the coming days. Currently, ETH is trading at $1,964.20.
Hot Take:
Bitcoin’s struggle to break resistance and Ethereum’s steady gains indicate a divergence in price movements. While BTC remains in consolidation, ETH is showing signs of bullish momentum. It will be interesting to see how these trends develop in the coming days and whether ETH can sustain its upward trajectory.
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