BTC briefly surpassed $20,000 once more on Tuesday as U.S. markets resumed trading after the previous day’s Independence Day holiday. ETH prices also rose sharply, breaking through their $1,100 barrier. The market capitalization of cryptocurrencies is up 0.63 percent overall.
Bitcoin
As traders arrived back from the U.S. Independence Day festivities on Tuesday, bitcoin surged back above $20,000.
BTC/USD reached an intraday high of $20,405.12 earlier in the day during a trading session that has been extremely volatile.
However, as bulls probably liquidated their positions, these gains were not maintained, and prices since have fallen to a low of $19,438.48.
Prices are currently at $19,447.73, or roughly 1.13 percent below today’s high, as of this writing.
Looking at the chart, the decline occurred as prices drew near a $20,500 short-term resistance level.
Overall, volatility is still high, bearish pressure is still present, and in the coming sessions, bears are probably trying to push the price below $19,000.
Ethereum
On Tuesday, there was turbulence in the ETH market as prices fluctuated between $1,100 and $1,000.
Following several days of trading below $1,100, ETH/USD climbed to a high of $1,165.68 earlier in today’s session.
The second-largest token in the world, behind Bitcoin, mostly managed to hold above this level after hitting previous highs.
ETH is currently trading above $1,100, despite earlier gains having somewhat slowed down. Bulls are trying to break through a significant resistance level.
This ceiling is at $1,150, where some bulls withdrew, but bullish sentiment is still present because the 10-day moving average is just about to cross the 25-day MA upward.
The pressure will probably increase if this cross occurs, sending prices possibly over $1,200 and above the resistance.
