In the last day, cryptocurrencies like Bitcoin, which is now trading at $20,107, and Ethereum, which is currently trading at $1,148, have both witnessed increases in value. These were unable to continue since the two biggest cryptocurrencies, Bitcoin and Ethereum, are presently up 1.9 percent and 5 percent, respectively. According to CoinMarketCap, the rest of the assets also experienced a mini-rally, with BNB rising by 3% to trade at $238 in the past day, Solana rising by 3% ($34), Polygon rising by 10% ($0.5), Uniswap rising by 8% ($5), XRP rising by 0.3% ($0.3), Cardano rising by 0.74% ($0.45), and Avalanche rising by 2.8% ($17).
Early gains have now been reduced, and bitcoin is currently tracking at $21,581.56 as prices failed to maintain a break through the $22,070 barrier level.
The bulls decided to sell their holdings at the 48.50 ceiling on the 14-day RSI indicator, which was also held at the time.
Relative strength must first overcome this current obstacle if BTC is to continue its advance over the weekend.
The second-largest cryptocurrency in the world saw gains throughout today’s session as prices reached multi-week highs.
The highest price for ETH/USD since June 26 was reached on Friday when it reached a high of $1,262.89.
Similar to BTC, ETH’s advance today saw it surpass a crucial resistance level of $1,260, which had been a source of ambiguity in previous weeks.
Prices have now dropped from those highs, and as of this writing, Ethereum is trading at $1,227.74.
Despite current small price declines, the token is still 3.55 percent above yesterday’s low at $1,181.12.
The 14-day RSI has also reached a ceiling at this point, which is another resemblance to the analysis done above for bitcoin. If there is no break above this level, ETH is expected to go back towards the $1,100 area.