Bitcoin, Ethereum Technical Analysis: BTC Hit a 3-Week High on Monday. According to the analysis, the main reason for the growth of bitcoin and the main reason is that it is working properly and investors are benefited directly.
Bitcoin (BTC) hit a three-week high on Monday as the price climbed for a second consecutive session.
After hitting a low of $16,940.90 on Sunday, BTC/USD moved to a one-day high of $17,378.15 in today’s session.
This point is the strongest point for bitcoin since November 11, when the price reached a high of $17,645.
Apart from bitcoin, Ethereum ( ETH ) also started the week in the green as the price moved closer to $1,300.
ETH/USD hit a high of $1,302.24 earlier in today’s session before falling to a low of $1,253.16 in less than 24 hours.
As a result, the world’s second-largest cryptocurrency is now marginally separated from the long-term resistance at $1,300 and, similar to bitcoin’s chart, Ethereum’s 10-day moving average (MA) (red) compares to the 25-day MA. has been rising upwards.
The 14-day RSI has also turned up, tracking the index at 52.87, well above the 52.00 range.
Once this current wall is able to break, the next target for the traders would likely be the $1,350 point. Where this growth publicly shows that the demand for bitcoin has increased in the future and in the past and its achievements are great and this person gives a new income to the crypto market according to which it is currently growing and market. working accordingly. According to this, both investors’ money and their investments do, after this it can be said that it is natural to have such momentum in the crypto market and it should also be technically so that this market continues to grow in a normal way.