Cryptocurrency markets held steady on Monday, as traders and investors prepare for key economic data releases from the United States. Bitcoin remains above the $28,000 level, whilst Ethereum is attempting to break out above $1,800.
Bitcoin
Bitcoin (BTC) saw some minor price action on Monday, as the world’s largest cryptocurrency held steady at the $28,000 level.
Following a low of $27,607.67 earlier in the session, BTC/USD rose to a peak of $28,475.62 as the day progressed.
The move saw bitcoin attempt to break above a key resistance level at $28,500, which was briefly breached over the weekend.
As far as traders are concerned, the 14-day relative strength index (RSI) is a key point of support at 62.00.
At the time of writing, bitcoin is trading 1.46% higher than at the same time last week.
Ethereum
Ethereum (ETH) is attempting to break out above the $1,800 level, with bulls now targeting a key resistance level.
ETH/USD rose to a high of $1,819.29 earlier in the session, coming off an earlier bottom at $1,765.52.
As of writing, the 10-day (red) moving average is now nearing a downward cross with its 25-day (blue) counterpart, which could signal upcoming price weakness.
The RSI is also a key point of contention, as traders watch the index for a potential break above the 60.00 ceiling.
At the time of writing, price strength is now at the 57.77 mark, with the next visible ceiling around the 62.00 region.
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