THELOGICALINDIAN - Bitcoin and ETH rallied on Sunday black as prices approached their accomplished akin in about three months BTC climbed aloft 47000 while ETH confused accomplished the 3300 point to alpha the anniversary
Bitcoin
Bitcoin started the anniversary in able fashion, with prices ascent accomplished $47,000 for the aboriginal time back the alpha of the year.
On Monday, BTC/USD rose to an intraday aerial of $47,245, as prices rose to their accomplished point back January 2.
Today’s move took abode afterward the blemish of the $44,950 attrition akin during Sunday’s session, with prices now targeting yet addition ceiling.
Bitcoin beasts will acceptable be attractive appear the $50,000 mark as their abutting target, about they charge aboriginal affected attrition at $48,200.
However, attractive at the chart, the 14-day RSI indicator is now acutely in overbought territory, tracking at about 70, which is its best back October.
This will acceptable be a huge obstacle for beasts to overcome, as amount backbone appears to accept peaked, with bears possibly cat-and-mouse for the absolute time to access the market.
Ethereum
ETH has additionally rallied to multi-month highs on Monday, as the world’s second-largest cryptocurrency continued its contempo gains.
Today’s assets saw ETH ascend to an intraday aerial of $3,351.07, which is the best the amount has hit back January 16.
Current ETH beasts may about become hardly nervous, as the accessible beam of $3,390 could get in the way of added upwards momentum.
Similar to BTC, the 14-day RSI on ethereum is currently overbought, with it currently tracking at 71, which is the accomplished point back September.
The accessible beam is acceptable one of the capital hurdles continuing in the way of ETH, as it looks to ascend aback appear the $4,000 level.
Will we see added gains, admitting prices actuality overbought? Leave your thoughts in the comments below.
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