Bitcoin continued to reform, to start the week as the stock market steps into the Christmas holidays. BTC remained below $17,000 on Monday as the price attempted to break out of key resistance levels and Ethereum was below $1,200 on Monday.
Bitcoin and Ethereum
Bitcoin (BTC) started the week with less than $17,000 as the price continues to add after a volatile weekend. After a lesser worth of $16,671.80 on Sunday, BTC/USD hit a high of $16,815.39 earlier in today’s session. Monday’s move saw the world’s largest cryptocurrency neglect the key resistance level worth $16,700.
Ethereum (ETH) also bounced during Monday’s session, the price remaining below the $1,200 mark. ETH/USD hit an intraday high of $1,192.92 earlier in the day, but the on-the-rise could not mark $1,200. Today’s move comes as prices saw a temporary low at $1,170 over the weekend, with bulls using it as an entry point.
As the chart shows, uncertainty is coming;
- As the 14-day Relative Strength Index (RSI) is covering below the resistance point at 46.00 for BTC. The index is currently moving at 44.16, with a low of 42.00 as a target for bears. The price will continue to rise until support or resistance is broken.
- ETH coincided with RSI hitting 39.00 and the index moving at 42.30, with a ceiling of 44.00 as the next visible resistance level.
Despite this, market sentiment remains volatile with no bulls or bears supporting the current price movement. This concludes that crypto investors and companies need to await the rising scenario of the world’s largest cryptocurrencies after the break.
