Bitcoinย (BTC) rebounded on Tuesday, becauseย ofย weakness in the Unitedย States dollar, following failed talks to tackle the debt ceiling crisis. President Biden stated, โWe reiterated onceย more that default is off the table and the only way to move forward is in good faith toward a bipartisan agreement.โ
Bitcoin
Bitcoinย (BTC) (BTC) rose over $27,000 on Tuesday, becauseย ofย weakness in the greenback, following failed talks to increase the Unitedย States debt ceiling.
After dropping to a low of $26,714.18 toย begin the week, BTC/USD surged to a peak of $27,434.68 earlier today.
Tuesdayโs profits saw Bitcoinย (BTC) marginally break out of a resistance level at the $27,300 mark.
This coincided with the relative strength index (RSI) climbing over a ceiling of its own, at 44.00.
Atย theย timeย ofย publication, the index is now tracking at 47.10, with an next zone of 50.00 a likely target for bulls.
Should they reach this point, thereย is a reasonable chance that Bitcoinย (BTC) will trade over $27,600.
Ethereum
Ethereumย (ETH) (ETH) likewise surged higher in todayโs session, as prices continued to move away from a key level of support.
ETH/USD hit an intraday high of $1,869.34 on Monday, 24 hours removed from currentlyย worth a bottom of $1,809.54.
The move came as the worldโs Second largest digitalย currency bounced away from a recent floor at $1,790.
Looking at the chart, todayโs surge comes following a slight breakout of a ceiling on the RSI at the 50.00 mark.
As of writing, price strength is now tracking at 51.97, with theย following visible level of resistance at 55.00.
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