Bitcoin continues to trade above $28,000 on Tuesday, maintaining its position near a two-month high. The cryptocurrency’s resilience is attributed to an unexpected 0.7% rise in U.S. retail sales for September.
After a dip from Monday’s peak of $30,000 to a low of $27,855.21 yesterday, the digital currency rebounded to over $28,600 today. This marks Bitcoin‘s highest rate since August 18, following a breakthrough past a pivotal resistance level of 63.00 on the Relative Strength Index (RSI) that peaked at 65.00.
In contrast, Ethereum experienced a downturn after briefly reaching a high of $1,628.16. Misinformation regarding the approval of Blackrock (NYSE:BLK)’s spot Bitcoin ETF led to a drop in the cryptocurrency’s value, landing at a low of $1,570.89 today. Following its failure to surpass an RSI ceiling of 49.00, Ethereum now appears to be targeting a lower level at $1,540, bringing an end to its four-day winning streak.
