As Do you anticipate the momentum to change in favor of the selling now? Post your opinions in the section below. analyzed the most recent U.S. retail sales data, bitcoin stayed close to a two-month high on Tuesday. Sales, which make up two-thirds of the American economy, increased by 0.7% in September, which was 0.4% more than was predicted. For a brief time, Ethereum exceeded $1,600.
Bitcoin
Following an improvement in U.S. retail sales that was better than anticipated, bitcoin kept trading above $28,000 on Tuesday.
Although BTC/USD fell from a high of $30,000 on Monday, it still traded above $28,600 today.
Despite the slowing of gains, this was still significantly higher than the bottom of yesterday at $27,855.21.
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| BTC/USD--Daily Chart |
Bitcoin is currently trading at its highest price since August 18 thanks to the recent upward trend, which came when the relative strength index (RSI) broke free of a crucial resistance level.
In yesterday's session, the index soared over a ceiling of 63.00 and to a high of almost 65.00.
Although the price strength has since declined, it is still just over the previous level of resistance.
Ethereum
After briefly crossing the $1,600 threshold for the first time in almost ten days, Ethereum (ETH) fell in today's session.
ETH/USD reached its highest point of the week at $1,628.16 after Cointelegraph tweeted that Blackrock's spot bitcoin ETF had been approved.
The cryptocurrency has now dropped, reaching a low of $1,570.89 earlier today after these allegations were shown to be false.
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| ETH/USD--Daily Chart |
Bears may now be aiming for a floor at $1,540 as a result of Tuesday's fall, which has ended a four-day winning streak for them.
The chart suggests that today's downturn was also influenced by the RSI indicator's inability to go through a ceiling at 49.00.
Do you anticipate the momentum to change in favor of the selling now? Post your opinions in the section below.