Bitcoing After reaching a multi-week high over the weekend, Ethereum consolidated on Monday as market uncertainty mounted ahead of tomorrow’s merger. The token, which is still trading above $1,700, fell from Sunday’s high as bulls likely liquidated previous positions. Bitcoin remained bullish, rising for the sixth session in a row.

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Bitcoin (BTC) rallied for the sixth straight session earlier in the week as sentiment in the cryptocurrency markets remained bullish.

The BTC/USD pair rallied to a high of $22,244.38 earlier in the session today, less than 24 hours after trading as low as $21,493.03.

Today’s rally sees the token up more than 12% over the past seven days, with some expecting more gains this week.

BTC/USD – Daily chart

Looking at the chart, the recent bullish momentum has led to price strength moving into overbought territory. At the time of writing, the 14-day RSI is currently at 59.67, and this follows a recent break of the 55.40 resistance point. Furthermore, the 10-day moving average (red) is now on the verge of a crossover with its 25-day counterpart (blue), which could signal further price increases.


Ahead of tomorrow’s merger, ethereum (ETH) consolidated on Monday as traders prepared for the event. After hitting a high of $1,782.73 on Sunday, ETH/USD fell to an intraday low of $1,721.63 earlier today.

The drop comes as the bulls have likely taken earlier gains in anticipation of increasing levels of price volatility in the coming days.

ETH/USD – Gráfico diario

At press time, prices have recovered from the previous low for the day, with ETH now trading at $1,751.34.

This is because sentiment remains bullish, following a recent cross between the 10-day (red) and 25-day (blue) moving averages. Overall, it looks like the target for traders remains $1,800, which could happen if the RSI breaks above its current ceiling of 60.00.

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Por Juanse

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