{"id":12886,"date":"2022-06-20T14:00:49","date_gmt":"2022-06-20T14:00:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-back-above-20000-as-cryptos-rebound-market-updates-bitcoin-news\/"},"modified":"2022-06-20T14:00:49","modified_gmt":"2022-06-20T14:00:49","slug":"btc-back-above-20000-as-cryptos-rebound-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-back-above-20000-as-cryptos-rebound-market-updates-bitcoin-news\/","title":{"rendered":"BTC Back Above $20,000 as Cryptos Rebound \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Following a weekend trading below $20,000, bitcoin rallied by over 10% on Monday to recapture this level. Cryptocurrencies were mainly in the green to start the week, as bulls seemingly bought the weekend\u2019s dip. ETH<\/a> was almost 15% higher in today\u2019s session.<\/b><\/p>\n

Bitcoin<\/h2>\n

Bitcoin rebounded from recent drops to start the week, as prices were once again trading above the $20,000 level.<\/span><\/p>\n

Following a low of $19,232.30 during Sunday\u2019s session, BTC<\/a>\/USD has rallied to an intraday high of $20,913.32 on Monday.<\/span><\/p>\n

This rally saw the world\u2019s largest crypto token regain momentum, after falling to its lowest level since December 2020 over the weekend. <\/span><\/p>\n

\"Bitcoin,<\/a>
BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Despite today\u2019s gains in price, BTC<\/a> still remains in a downward slope, and is down 15% from its value at the same point last week.<\/span><\/p>\n

As of writing, prices are now trading close to a recent support point of $20,500, as bulls chose to secure gains, rather than hold onto positions following earlier highs.<\/span><\/p>\n

This coincided with the 14-day RSI hitting its own resistance level at 29, which has historically stifled attempted rallies in price. <\/span><\/p>\n

Ethereum<\/h2>\n

ETH<\/a> was trading below a key level over the weekend, however it also managed to surge in today\u2019s session.<\/span><\/p>\n

Monday saw ethereum rise by nearly 15% at its peak, hitting an intraday high of $1,159.99 in the process.<\/span><\/p>\n

ETH<\/a> fell to a low of $885 during the weekend, which is the lowest point prices have hit since January 2021.<\/span><\/p>\n

\"Bitcoin,<\/a>
ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Similar to BTC<\/a>, ethereum encountered a stumbling block in today\u2019s session, as bulls fled their positions as the RSI reached a point of resistance.<\/span><\/p>\n

This is the 30.20 ceiling, and this coincided with another resistance around the $1,150 point, which has seemingly acted as an exit zone.<\/span><\/p>\n

As of writing, prices are currently trading at $1,130, which comes as bulls avoided remaining in trades close to these areas of uncertainty.<\/span><\/p>\n

Will ETH<\/a> fall below $1,000 at any point this week? Leave your thoughts in the comments below.<\/i><\/b><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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