Bitcoin rose above $30,000 to start out the week, with bearish sentiment marginally fading as we head into June. ETH additionally rallied on Monday, nonetheless the world’s second largest cryptocurrency continued to hover under $1,900.
Following nearly 5 days buying and selling under $30,000, BTC lastly surged, with costs climbing to their highest level in over two weeks.
So far right now, we now have seen BTC/USD hit a excessive of $30,806.86, which is its highest degree since May 16.
Today’s peak comes following three consecutive days of features, which started close to the latest assist level of $28,800.
As a results of this bullish momentum, bitcoin broke out of its ceiling of $30,500, and as of writing is simply marginally under this level.
Bulls who entered in the previous few days are possible securing income at this resistance level, which has typically been a degree of rivalry.
The 14-day RSI can be presently monitoring at a multi-week excessive of 46, and should transfer greater till it finds the subsequent ceiling at 49.
Ethereum additionally rose by nearly 5% to start out the week, nonetheless these features weren’t sufficient to ship costs over $2,000.
Following a low of $1,787.47 on Sunday, ETH/USD raced to an intraday excessive of $1,909.92 earlier right now.
These features got here as bulls held the latest assist level at $1,750, and pushed costs again in direction of the $1,950 former flooring.
Similar to BTC, a few of right now’s earlier features have pale, and as of writing, ETH is buying and selling at $1,888.73, which is marginally under right now’s excessive.
However, in contrast to bitcoin, the place the RSI remains to be heading in direction of a ceiling, ETH has already discovered one, and this might probably entice bears to re-enter.
Will ETH climb above $2,000 this week? Leave your ideas within the feedback under.