Bitcoin (BTC) experienced a rebound after recent losses, reaching an intraday high of $30,751.19 on Tuesday. This was likely influenced by the upcoming U.S. consumer confidence report, which is expected to show an increase in the index. The 14-day relative strength index (RSI) also bounced from a support point at 68.00, reaching a reading of 70.17, indicating overbought territory. However, unless BTC breaks out of the barrier at 73.00, it is likely to drop below $30,000 again.
Ethereum (ETH) briefly surpassed the $1,900 level before falling back below it. After hitting a low of $1,840.22 at the beginning of the week, ETH/USD rose to a peak of $1,905.36. Currently, ETH is trading at $1,881.79, with the RSI slightly below a resistance level of 58.00. Momentum is bullish, with the 10-day moving average crossing over its 25-day counterpart. If this trend continues, ETH has a good chance of surpassing $1,900 and potentially reaching $2,000. To receive weekly price analysis updates, you can register your email.
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