Bitcoin, Ethereum Technical Analysis: BTC Back Above $20,000 as Markets Rebound
Bitcoin was back above $20,000 on Tuesday, as bulls seemingly moved in to buy following the recent dip in price. The token dropped to a multi-week low over the weekend, however prices have now risen in back-to-back sessi...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Bitcoin was back above $20,000 on Tuesday, as bulls seemingly moved in to buy following the recent dip in price. The token dropped to a multi-week low over the weekend, however prices have now risen in back-to-back sessions. Ethereum was also in the green, as prices briefly recaptured $1,600.
BitcoinBitcoin (BTC) was trading higher for a second consecutive session, as the token rallied back above $20,000 following recent declines.
BTC/USD dropped to a low of $19,600.79 on Sunday, however after two days of gains, prices reached a peak of $20,542.64 earlier today.
This move sees bitcoin attempt to move back towards a key support/resistance point at $20,800, five days after falling below the mark.
Looking at the chart, Tuesday’s rally has come as the relative strength index (RSI) rebounded from its own floor to start the week.
The RSI climbed from a support point at 29.00, and is now tracking at a reading of 38.20, which is marginally above its 38.00 ceiling.
Should this week’s uptrend continue, the index will likely reach a higher resistance point of 41.50, which will be enough to send prices above $20,800.
EthereumLike bitcoin, ethereum (ETH) also had a turbulent weekend, which saw prices fall to a one-month low.
During the weekend, ETH/USD hit a low of $1,427.73, which is its weakest point since July 26, taking prices close to a key floor at $1,420.
However, gains yesterday — and so far in today’s session — have sent the token to an intraday high of $1,600.46.
This sees the world’s second largest cryptocurrency climb by almost 10% from its low of $1,448.13 on Monday.
As of writing, ETH continues to trade above a key support point at $1,550, and this comes as its RSI edges closer to a potential hurdle.
A ceiling of 50.00 awaits the index, which is currently tracking at 47.00, which could potentially see bears back into the market, putting a stop to the recent rebounds.
Register your email here to get weekly price analysis updates sent to your inbox:
Can ethereum move back towards $2,000 in September? Leave your thoughts in the comments below.
Why this matters
This ethereum story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin NewsRelated market context
Perplexity AI Predicts a Big Move for BTC in 2026 Even With Recent Dip
Perplexity AI predicts that if a full-blown bull market returns in Q4, Bitcoin could reach $180,000 before January 1, 2027. The bu...
Quant (QNT) Price Today: QNT Jumps Over 300% in a Week as Tokenized Banking Deal Drives Demand
The sharp move accelerated after The Clearing House selected Quant on September 24 to provide the interoperability, orchestration,...
Aave’s live stock-token loans expose USDC lenders to a weekend price gap
Aave's Base market has accepted seven Coinbase stock tokens as collateral for USDC loans since Sept. 25, giving the stablecoin sup...
Solana Price Prediction: $125 Rejection Puts the $100-$105 Support Zone on Watch
Solana’s rally has hit a pause at $125. After breaking below a rising trendline, SOL is trading back near $118, where buyers face...
Ethereum Price Prediction: ETH is Evolving Beyond A Blockchain
Ethereum is trading near $2,650, down 2.3% over 24 hours, but the real story isn’t in the candles or its price prediction. Vitalik...
Bitmine’s Ether Stash Passes 6 Million Tokens as Its Weekly Buying Slows
Bitmine Immersion Technologies has crossed 6 million ETH, the Ethereum treasury company said Monday, after buying 17,362 ETH in th...