Bitcoin
Bitcoin (BTC) started the week with price uncertainty, remaining in consolidation.
- BTC/USD dropped to a bottom at $29,124.11 earlier today.
- Bitcoin bulls bought the dip, pushing the price to $29,351.73.
- A breakout above the 49.00 zone on the RSI could intensify bullish momentum.
- A crossover of moving averages may help recapture the $30,000 mark.
Ethereum
Ethereum (ETH) also trended sideways and remained largely unchanged on Monday.
- ETH/USD fell to an intraday low of $1,834.80.
- Ethereum is moving towards a key support point at $1,830.
- The 10-day and 25-day moving averages are approaching an upward crossover.
- For the crossover to occur, the RSI needs to breach the 48.00 resistance zone.
- If successful, ETH could reach $1,900 in the coming days.
Hot Take
Bitcoin and Ethereum continue to experience price consolidation, with bullish momentum waiting for key breakouts on the RSI. Investors are closely watching for crossovers of moving averages, which could potentially lead to a surge in prices. The support levels for both cryptocurrencies are critical in determining their short-term direction. With the market uncertain, traders need to be cautious and monitor the RSI and moving averages closely for potential opportunities.
Benito Cormi, the brilliant crypto analyst who has made waves in the world of cryptocurrency. With his razor-sharp analytical skills and deep understanding of the digital asset landscape, Benito has become a trusted figure in the industry and remains at the forefront, tirelessly researching and analyzing market trends to help individuals and businesses make informed decisions in this dynamic landscape.
