Bitcoin:
Heading Towards One-Year High
Key Points:
– Bitcoin (BTC) reached a new high as U.S. markets closed for the July 4th holiday.
– BTC/USD surged from a low of $30,586.51 to an intraday peak of $31,375.61.
– The cryptocurrency is inching closer to its strongest point since June last year, at $31,443.
– Momentum has waned as the relative strength index (RSI) hit a resistance level at 70.00.
– The index currently stands at 68.43 and seems to be heading towards a support point at 66.00.
– If it reaches this level, Bitcoin might trade around $30,500.
Ethereum:
Slips Below $1,950, but Rebounds
Key Points:
– Ethereum (ETH) dipped below $1,950 after nearing $2,000 on Monday.
– ETH/USD hit a low of $1,949.15, just one day after peaking at $1,974.78.
– The second-largest cryptocurrency has since recovered and is approaching a multi-month high.
– ETH bulls need to push prices above the 64.00 zone to achieve this milestone.
– The RSI currently stands at 62.59, the highest level since April 19 when the price exceeded $2,100.
– There is speculation that ETH could return to this point in the coming weeks.
Closing Thoughts:
Hot Take: Bitcoin and Ethereum continue to show signs of strength, with Bitcoin reaching a one-year high and Ethereum rebounding from a slight dip. While Bitcoin faces resistance at the 70.00 level, Ethereum is approaching a multi-month high. The coming weeks could be crucial for both cryptocurrencies as they strive to maintain their upward momentum. As an avid reader of Lolacoin, staying informed about these market movements can help you make better investment decisions and stay ahead in the ever-changing world of cryptocurrencies.
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