Bitcoin, Ethereum Technical Analysis: BTC Hovers Slightly Above $20,000, as Crypto Volatility Continues
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Loading... - charles daisey
- 07 Jul 2022
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Bitcoin
Bitcoin was trading in the green for most of Wednesday’s session, as bullish pressure continued to intensify.
Following a low of $19,341.23 on Tuesday, BTC/USD was up by over $1,000 from this point earlier today.
Prices rose to a peak of $20,635.47 during the session, surging past the resistance point of $20,500 in the process.
Like on Tuesday, gains have somewhat eased following a collision with this resistance level, with bitcoin now trading at $20,219.85 as of writing.
However, should bulls manage to finally overcome this point, then we could see BTC move closer to a higher ceiling at $22,000.
This run may begin once we see a breakout of the current resistance level of 38.20 on the 14-day RSI indicator.
Ethereum
ETH was marginally higher on Wednesday also, as prices continued to trade above $1,100 following yesterday’s surge.
As of writing, ETH/USD has risen to an intraday high of $1,162.40 on hump day, which is marginally above a ceiling of its own.
This short-term resistance at the $1,150 level has been in place for the past seven days, however bulls look set on moving beyond this. Read More…
