10-18-2022 icon

BTC, ETH Rises Above Major Resistance Level

By Lucy Adegbe

Bitcoins exchange rate hit its five days peak on Tuesday, as prices rallied above a major resistance position. The trading price of Ethereum similarly encountered a significant point earlier, as the digital currency space moves toward an anticipated bullish sentiment.

The world’s largest cryptocurrency by market capitalization was spotted to have hit its highest price in five days on Tuesday, as the market moved closer to the end of an overall negative attitude towards the asset’s value. 

BTC reached a daytime increase point of exactly $19,667, right after a Monday session decline record of $19,427.

The action registered its five days highest rate above a major resistance position of $19,550, which set a relatively substantial position since last Friday.

According to the technical chart, the recent increase comes as the 14-day RSI persists with trades higher than its apex of 48.50. 

Although the price of Bitcoin is currently trading comparably down at $19,240.52, speculators may continue to anticipate an increase to hit the $20,000 point which has not been reached since October 6.


The second leading cryptocurrency by market cap also experienced its Tuesday’s increase as the coin prevailed at an exchange rate above $1,300. 

Just like Bitcoin, Ethereum’s bullish actions have relatively withdrawn as the market skepticism plunges up towards the resistance point.

A little balance over the bullish disturbance would place Ethereum speculators at a ceiling close to the $1,380 point.

At the time of writing, Ethereum is currently exchanging hands at $1292.00.