Bitcoin:
– Bitcoin’s price dipped below $26,000 but has since rebounded and climbed higher.
– The cryptocurrency reached a peak of $26,786.90, the highest point in a week.
– The surge pushed the 14-day relative strength index (RSI) to 28.00, a one-week high.
– Price strength has moved below this point, but a breakout could push BTC above $27,000.
Ethereum:
– Ethereum also experienced a rebound and approached a breakout above the $1,700 zone.
– The price rallied to a high of $1,696.59, less than 24 hours after hitting a bottom of $1,634.87.
– Like Bitcoin, Ethereum reached its highest point in a week, peaking above $1,800 last Thursday.
– The 14-day RSI is facing resistance at the 34.00 zone.
– Sentiment has slightly shifted, with the index now at 32.04, resulting in some earlier gains easing.
Hot Take:
Both Bitcoin and Ethereum have shown signs of recovery after a recent dip in price. Bitcoin’s surge has brought it to the highest point in a week, and a breakout could push it above $27,000. Ethereum has also rebounded and approached a breakout above the $1,700 zone. While sentiment has slightly shifted, there is still potential for further gains in both cryptocurrencies. As always, it is important to closely monitor the market and make informed decisions when trading in the crypto space.
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