Monday, May 29, 2023

On Monday, prices of Bitcoin went back up above the $27,000 mark. Last weekend, prices had dropped to a low point which is the lowest it had been in two months but now it looks like things are turning around. Ethereum was also doing better on this same day.

Bitcoin Breaks Resistant Roof

Bitcoin (BTC) prices went up above the $27,000 mark this week. Last week’s prices were lower than usual, but they started getting better again. BTC/USD got extremely high at $27,521.62 and stayed away from a low of $26,500 over these two months.

On Monday, Bitcoin prices increased for two days in a row which caused it to break the “ceiling” (the uppermost part) on what’s called the “relative strength index” (RSI). The RSI number is now at 43.66, slightly higher than the resistance point of 43.00. Now, traders will try to make Bitcoin reach the $28,000 level again, which was last seen this past Thursday.

Ethereum has risen significantly

Ethereum (ETH) has risen significantly as it recently passed the $1,800 mark. ETH/USD rose to a record of $1,834.94, shortly after dropping to an all-time low of $1,787.54 the day before. This is actually the second positive day in a row for ETH following a negative streak that lasted eight days. As a result of this negative streak, Ethereum dropped to its weakest point since March but it looks like things are turning around now.

Ethereum prices have been on the rise recently, and now they’re above a big milestone of 44.00. Right now they are at 45.85, with the next goal being 50.00 or higher!

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