Bitcoin
Bitcoin started the week with a slight increase, surpassing the $26,000 level on Monday.
- Bitcoin reached a low of $25,919.02 on Sunday and then rose to a high of $26,260.68 on Monday.
- Traders have found a relatively stable floor around $25,900, indicating a potential recovery of last week’s gains.
Ethereum
Ethereum also experienced a slight increase on Monday, settling around a new support point.
- ETH/USD reached a high of $1,692.33, with bulls attempting to push it above $1,700.
- Ethereum found support around the $1,650 mark, which bulls used as an opportunity to reenter the market.
Both Bitcoin and Ethereum show oversold conditions based on the relative strength index (RSI).
- Bitcoin’s RSI is at 20.57, indicating potential exhaustion of bearish momentum.
- Ethereum’s RSI is around 25.00, suggesting a possible breakout above the resistance level of 31.00.
Hot Take
The slight increase in Bitcoin and Ethereum prices indicates a potential rebound from last week’s losses. Traders are finding support at key levels, which may lead to further recovery. Keep an eye on the RSI levels as they provide insight into market sentiment. Bulls may have an opportunity to regain control if they can break through the resistance levels. Stay informed and watch for any significant price movements.
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