The cryptocurrency markets experienced a resurgence after the Easter break, with Bitcoin and Ethereum both experiencing a rise in prices.
Bitcoin
Bitcoin (BTC) started the week at the $28,000 mark, following the holiday season. Market sentiment quickly shifted in the favor of bulls, and the move saw BTC briefly break out of the $28,500 resistance level.
BTC/USD rose to a high of $28,532.83 earlier in the day, after trading at a low of $27,828.48 the day prior. Prices then slightly moved above the ceiling of $28,500.
The 14-day relative strength index (RSI) bounced from a recent floor at 58.00, and is currently tracking at 61.07. The next visible resistance point is at the 65.00 mark.
At the time of writing, BTC was trading at $28,327.63.
Ethereum
In addition to Bitcoin’s surge, Ethereum (ETH) also saw a rise in prices, closing at the $1,900 mark.
The ETH/USD pair climbed to $1,873.06 at the start of the week, following a low price of $1,828.78 Sunday. Bulls re-entered the market as the price briefly broke below a floor of $1,830.
Since then, gains have fallen as RSI reached a key resistance level at 62.00. The index is currently at 58.83, but closing in on a ceiling near 62.00.
A successful break of the 62.00 resistance point could result in ETH prices surpassing $1,900.
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