roadrunner Posted July 4, 2023 Share Posted July 4, 2023 Bitcoin moved back above the $31,000 level on July 4th, as U.S. traders celebrated the Independence Day holiday. As a result of the rally, the cryptocurrency remained near a one-year high in today’s session. Ethereum consolidated after Monday’s gains. Bitcoin Bitcoin (BTC) moved closer to a fresh one-year high on Tuesday, as U.S. markets closed in celebration of the July 4th holiday. Following a low of $30,586.51 to start the week, BTC/USD raced to an intraday peak of $31,375.61 earlier in the session. The move saw bitcoin edge closer to last Friday’s high at $31,443, which was its strongest point since June last year. Earlier momentum has since faded, as the relative strength index (RSI) collided with a resistance level at 70.00. The index is now tracking at 68.43 and appears to be heading for a support point at the 66.00 mark. Should it reach this point, there is a strong possibility that bitcoin will be trading around the $30,500 level. Ethereum After moving towards $2,000 on Monday, ethereum (ETH) slipped in today’s session, falling below $1,950. ETH/USD dropped to a bottom at $1,949.15 earlier in the day, less than 24 hours after peaking at $1,974.78. The world’s second-largest cryptocurrency has since rebounded and is once again closing in on a multi-month high. In order to get there, ETH bulls will need to take price strength above an upcoming ceiling at the 64.00 zone. Currently, the RSI has a reading of 62.59, which is its highest level since April 19, when the price was above $2,100. Some believe that ETH could head back toward this point in the coming weeks. Register your email here to get weekly price analysis updates sent to your inbox: Will markets rally after U.S. traders return from the July 4th holiday? Leave your thoughts in the comments below. View the full article Quote Link to comment https://slingbank.com/forums/topic/19795-bitcoin-ethereum-technical-analysis-btc-edges-closer-to-fresh-1-year-high-above-31000/ Share on other sites More sharing options...
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