BTC Tops $30,000 to Start Week – Market Update Bitcoin News

Bitcoin has rallied above $30,000 to start the week, and the bearish sentiment has subsided slightly as we head into June. Ethereum Monday also rose, but the world’s second-largest cryptocurrency continued to hover below $1,900.

bitcoin

Nearly five days after trading below $30,000, bitcoin It eventually surged, with prices climbing to their highest in more than two weeks.

So far today we have seen bitcoin/USD hit a high of $30,806.86, its highest level since May 16.

Today’s high comes after a three-day winning streak, starting with the most recent support near $28,800.

Bitcoin, Ethereum technical analysis: BTC tops $30,000 to start this week
bitcoin/USD – daily chart

Thanks to this bullish momentum, Bitcoin has breached the $30,500 ceiling and is just below that at press time.

The bulls who entered over the past few days could take profits at this resistance point, which is often a point of contention.

The 14-day RSI is also currently at a multi-week high of 46 and could move higher until the next ceiling is found at 49.

Ethereum

Ethereum also jumped nearly 5% to start the week, but those gains weren’t enough to push the price above $2,000.

Following Sunday’s low of $1,787.47, Ethereum/USD surged to an intraday high of $1,909.92 earlier in the day.

These gains came as bulls held near-term support at $1,750 and pushed prices back to the front bottom of $1,950.

Bitcoin, Ethereum technical analysis: BTC tops $30,000 to start this week
Ethereum/USD – daily chart

as bitcoinsome gains from earlier today have faded, and at the time of writing, Ethereum It was trading at $1,888.73, just below today’s high.

However, unlike Bitcoin, Bitcoin’s RSI is still heading towards the ceiling, Ethereum One has been found, which may attract bears to re-enter.

will Ethereum Climb above $2,000 this week? Leave your thoughts in the comments below.

Elijah Danbell

Eliman brings an eclectic perspective to market analysis, having served as a brokerage director, retail trading educator and market commentator for cryptocurrencies, stocks and foreign exchange.




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